Direct Loss - Law Dictionary Search Results
Home Dictionary Name: direct lossdirect loss
direct loss see loss ...
Direct loss and or expense
Direct loss and or expense, in JCT forms means that which arises naturally and in the ordinary course of things, F.G. Minter Ltd. v. Welsh Health Technical Services Organisation, (1980) 13 BLR I, CA....
loss
loss 1 : physical, emotional, or esp. economic harm or damage sustained: as a : decrease in value, capital, or amount compare gain b : an amount by which the cost of something (as goods or services) exceeds the selling price compare profit c : something unintentionally destroyed or placed beyond recovery d : the amount of an insured's financial detriment due to the occurrence of a stipulated event (as death, injury, destruction, or damage) in such a manner as to create liability in the insurer under the terms of the policy NOTE: As a general rule, economic losses are deductible from adjusted gross income under section 165 of the Internal Revenue Code. There are, however, numerous exceptions and limitations. actual loss : the identifiable and calculable monetary detriment that is suffered or will be suffered as a result of an act or event actual total loss : a loss in marine insurance in which the property (as a vessel or cargo) cannot be repaired or recovered compare constru...
Special damage
Special damage, such a loss as the law will not presume to be the consequence of the defendant's act, but which depends in part at least on the special circumstances of the case. It must therefore be explicitly claimed on the pleadings, and at the trial it must be proved by evidence both that the loss was incurred and that it was the direct result of the defendant's conduct. a mere expectation or apprehension of loss is not sufficient (Odgers on Pleading)....
damage
damage [Old French, from dam injury, harm, from Latin damnum financial loss, fine] 1 : loss or harm resulting from injury to person, property, or reputation 2 pl : the money awarded to a party in a civil suit as reparation for the loss or injury for which another is liable see also additur, cover, mitigate, remittitur compare declaratory judgment at judgment, injunction specific performance at performance NOTE: The trier of fact determines the amount of damages to be awarded to the prevailing party. More than one type of damages may be awarded for a single injury. actual damages : damages deemed to compensate the injured party for losses sustained as a direct result of the injury suffered called also compensatory damages consequential damages : special damages in this entry direct damages : damages for a loss that is an immediate, natural, and foreseeable result of the wrongful act compare special damages in this entry ex·em·pla·ry damages [ig-zem-plə-r...
Measure of damage
Measure of damage, the test which determines the amount of damages to the given. The general rule in English law is that in contract the measure of damage is the actual loss to the plaintiff, and in tort the compensation to the plaintiff for the loss or damage which it may be supposed be has suffered directly as a natural consequence of the act complained of. The exception is those ases where vindictive or exemplary damages can be given, e.g., libel, slander, violence, malice, cruelty, or breach of promise of marriage. The actual loss cannot always be recovered, as the whole or a portion of the loss may be too remote to be the natural and probable consequence of that which constitutes the cause of action, and this will most frequently occur in actions of tort. Though unable to prove actual loss, a plaintiff may sometimes be entitled to nominal damages, e.g., breach of an agreement to lend money. In actions of contract, the market-price of the subject-matter at the date the contract is ...
Payment
Payment, is the act of paying, K.S. Bawa v. Director of Enforcement, (1990) Cr LJ 1068.The payment of money before the day appointed is in law payment at the day; for it cannot, in presumption of law, be any prejudice to him to whom the payment is made to have his money before the time; and it appears by the party's receipt of it, that it is for his own advantage to receive it then, otherwise he would not do it, 5 Rep. 117. See the notes to Cumber v. Wane, (1719) in 1 Smith's L.C.Payment is a recompense for service rendered, Bala Subrahmanya Rajaram v. B.C. Patil, AIR 1958 SC 518 (519): (1958) SCR 1504.(ii) 'Payment' implies gift of money by someone to another. A partition in a H.U.F. can be considered either as 'disposition' or 'conveyance' or 'assign-ment' or 'settlement' or 'delivery' or 'payment' or 'alienation' within the meaning of those words in s. 2 (xxiv) of Gift Tax Act, 1958; Commissioner of Gift Tax v. N.S. Getty Chettiar, AIR 1971 SC 2410: (1972) 1 SCR 736: (1971) 2 SCC 74...
Trust
Trust, is a comprehensive expression, as covering not only the relationship of trustee and beneficiary but also that a bailor and bailee master and servant pledger and pledgee, guardian and ward and all other relations which postulate the existence of fiduciary relationship between the complainant and the accused, State v. K.P. Jain, (1983) 2 Crimes 947 (All).Trust, is a trust for public purposes, the substances and primary intention of the creator must be seen, Shabbir Husain v. Ashiq Husain, AIR 1929 Oudh 225.Trust, is an obligation annexed to ownership. A trustee holds property 'subject' to an obligation, which the testator has imposed upon him, Mahadeo Ramchandra v. Damodar Vishwanath, AIR 1957 Bom 218: (1957) 59 Bom LR 478.Means any arrangement whereby property is transferred with intention that it be administered for another's benefit is a trust. It casts an obligation on the trustee to use the property for achieving the purpose for which the trust is created, Baba Jamuna Das Mah...
direct insurance
direct insurance : an insurance contract in which the insurer agrees to pay the insured for a designated loss compare reinsurance ...
liability
liability pl: -ties 1 : the quality or state of being liable 2 : something for which one is liable: as a : a financial obligation : debt [tax ] [the bonds are liabilities] compare asset contingent liability : an amount that may or may not be owed depending on the outcome of a contingency (as a cosigner's default on a loan) fixed liability : a liability (as a bond or mortgage) that does not mature for at least one year from the date incurred or from a given date b : accountability and responsibility to another enforceable by civil remedies or criminal sanctions [ for injuries caused by their product] absolute liability : strict liability in this entry alternative liability : joint liability imposed on multiple tortfeasors when there are simultaneous tortious acts (as defective manufacture of parts of a wheel by different manufacturers) and uncertainty as to which act was the proximate cause of an injury compare concert of action civil liability : liability imposed under c...
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