Loss - Law Dictionary Search Results
Home Dictionary Name: loss Page: 5Average
Average, a medium, a mean proportion used in various senses:-(1) A service which a tenant owes to his lord by doing work with his avers.(2) A shipping or insurance term. (a) Average, or more fully general average, is where any damage or loss has been properly and voluntarily incurred in respect of a ship or cargo for its safety, e.g., goods thrown overboard in a storm to lighten the ship. Such loss by maritime law is shared proportionately between the shipowners and the owners of the cargo, according to value. This risk is almost always covered by insurance. An Average Bond is a bond entered into by the consignees of a cargo with the shipowners, when a general average loss has been sustained by the ship, binding the former to pay their proportion as soon as ascertained. (b) Particular average is damage, or loss to a ship, or cargo, other than a general average loss. Such a loss rests where it falls, that is to say, is borne by the owner of the thing lost or damaged, or by his insurer, ...
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 ...
Indemnity
Indemnity, a contract, express or implied, to keep a person harmless from loss which that person may incur by reason of some act, omission or event. It differs from a guarantee which requires a writing under s. 4 of the Statute of Frauds in that the latter guarantee contemplates the primary liability of a third person. as pointed out by Anson on Contracts, a form of indemnity may be illustrated by 'If you will supply goods to A. I will see you paid.' A guarantee, if 'A. does not pay you, I will.' There is, as a rule, a right of subrogation to all the remedies available to the person indemnified under an indemnity available to a person indemnifying-a guarantor has the right of subrogation as well as a right of recourse against the person guaranteed unless otherwise agreed. A great number of indem-nities are implied at Common Law or statute, and the contract extends to all the loss suffered and is not limited in amount as a contract to pay a sum of money is limited. As to implied indemni...
risk
risk 1 a : possibility of loss or injury b : liability for loss or injury if it occurs [the of loss passes to the buyer when the goods are duly delivered to the carrier "Uniform Commercial Code"] [the of personal injury and property damage should be placed with the manufacturer rather than the consumer "Case & Comment"] 2 a : the chance of loss to the subject matter of an insurance contract : uncertainty with regard to loss ;also : the degree of probability of such loss compare peril b : a person or thing that is a specified hazard to an insurer [a poor for insurance] c : an insurance hazard from a specified cause or source [a war ] risk·less adj ...
Damage
Damage, Any loss, whether actionable as an injury or not. See DAMNUM ABSQUE INJURIA.The expression 'damage' is not necessarily confined to physical damage. Ordinarily damage is caused by physical contact of the ship, such as in collision. But damage can also be caused to property by breach of contract or acts of commission or omission on the part of the carrier or his agents or servants by reason of the negligent operation and management of the vessel, as, for example, when cargo is damaged by exposure to weather or by negligent stowage, or, by the misconduct of those in charge of the ship, like when cargo is disposed of contrary to the instructions of the owner or by reason of theft and other misdeeds. In all these cases, damage arises by reason of loss caused by what is done by the ship or by the breach, negligence or misdeeds of those in charge of the ship. It must however be noticed that the expression 'damage done by any ship' has been construed by the English Courts as not to app...
Damages
Damages, constitute the sum of money claimed or adjudged to be paid in compensation for loss or injury sustained, the value estimated in money, of something lost or withheld, Divisional Controller K.S.R.T.C. v. Mahadeva Shetty, (2003) 7 SCC 197 (202).The expression 'damages' is neither vague nor over-wide. It has more than one signification but the precise import in a given context is not difficult to discern. A plurality of variants stemming out of a core concept is seen in such words as actual damages, civil damages, compensatory damages, consequential damages, contingent damages, continuing damages, double damages, excessive damages, exemplary damages, general damages, irreparable damages, pecuniary damages, prospective damages, special damages, speculative damages, substantial damages, unliquidated damages. But the essentials are (a) detriment to one by the wrongdoing of another, (b) reparation awarded to the injured through legal remedies, and (c) its quantum being determined by t...
Collision of ships
Collision of ships, the striking or running foul of one ship against another. The remedy is either an action at law or a suit in the Admiralty Division. The possibilities under which a collision may occur, and the rules acted on by the Court of Admiralty, have been thus stated by Lord Stowell in The Woodrop-Sims, (1815) 2 Dodson, 85:-'In the first place, it may happen without blame being imputable to either party: as where the loss is occasioned by a storm or any other vis major, in that case the misfortune must be borne by the party on whom it happens to light, the other not being responsible to him in any degree. Secondly, a misfortune of this kind may arise where both parties are to blame, where there has been a want of due diligence or of skill on both sides: in such a case, the rule of law is, that the loss must be apportioned between them, as having been occasioned by the fault of both of them. Thirdly, it may happen by the misconduct of the suffering party only, and then the rul...
Negligence
Negligence, acting carelessly, a question of law or fact or of mixed fact and law, depending entirely upon the nature of a duty, which the person charged with negligence has failed to comply with or perform in the particular circumstance of each case. A very convenient classification has been formulated corresponding to the degree of negligence entailing liability measured by the degree of care undertaken or required in each case, i.e., (1) ordinary, which is the want of ordinary diligence; (2) slight, the want of great diligence; and (3) gross, the want of slight diligence. A smaller degree of negligence will render a person liable for injury to infants than in the case of adults, see Cooke v. Midland Great Western Railway, 1909 AC 229; and Glasgow Corporation v. Taylor, (1922) 1 AC 44. There is also a peculiar duty to take precaution in the case of dangerous Articles, see Dominion Natural Gas Co. v. Collins, 1909 AC 640. This case should be distinguished from the principle in Fletche...
Sue and labour clause
Sue and labour clause. The name given to a clause in a policy of marine insurance which was introduced to make it clear that the assured and his agents or servants, e.g., master and crew, can take every step to recover insured property in peril without loss of the rights under the insurance and to be repaid any expenditure which may be incurred by the assured or his agents to avert the loss. The clause does not cover general average losses and contributions and salvage charges, (English) Marine Insurance Act, 1906, s. 78 (2), and see Aitchison v. Lohre, (1879) 4 AC 755. The clause is usually in the following form:-'And in case of any loss or misfortune, it shall be lawful to the Assured, their Factors, Servants and Assigns, to sue, labour, and travel for, in, or about the Defence, Safeguard and Recovery of the said Goods and Merchandises and Ship, etc., or any part thereof, without prejudice to this insurance; To the charges whereof, we, the assurers, will contribute, each one accordin...
Stigma
Stigma, denotes loss of confidence by the employer amount to 'stigma', Kamal Kishore Lakshman v. Pan American World Airways, AIR 1987 SC 229: (1987) 1 SCC 146.Stigma, is something that detracts from the character or reputation of a person, a mark, sign etc., indicting that something is not considered normal or standard (Webster's New World Dictionary), Dipti Prakash Banerjee v. Satyendra Nath Bose National Centre for Basic Sciences, (1999) 3 SCC 60.Stigma, is understood to be something that is detraction from the character or reputation of a person. It is blemish, imputation, mark or label indicating a deviation from a norm, mere description of background fact cannot be called as stigma. State of U.P. v. Ram Bachan Tripathi, AIR 2005 SC 3212.--in the absence of a statutory definition of the word 'stigma', its meaning as available in dictionaries. According to Webster's New World Dictionary it is something that detracts from the character or reputation of a person, a mark, sign, etc. in...
- << Prev.
- Next >>