Diminution in value is a legal term of art used when calculating damages in a legal dispute, and describes a measure of value lost due to a circumstance or set of circumstances that caused the loss. Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate compensatory damages.[1]
In legal damages theories, diminution in value is often calculated for compensatory special damages when a loss is monetarily quantifiable, and for restitution or disgorgement damages when the loss has unfairly enriched a wrongdoer.
Diminution of value is the loss of financial worth of something because of damage. This book's extensive, in-depth coverage will help you determine the proper measure of damage for the appropriate jurisdiction and apply diminution in value damages to losses to property. Because courts do not use the same rules to calculate damages,
it supplies individual state and federal court chapters on how each applies the proper measure of damages for tort, for contract breaches, and for insurance claims.
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Explanation:
Diminution in value is a legal term of art used when calculating damages in a legal dispute, and describes a measure of value lost due to a circumstance or set of circumstances that caused the loss. Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate compensatory damages.[1]
In legal damages theories, diminution in value is often calculated for compensatory special damages when a loss is monetarily quantifiable, and for restitution or disgorgement damages when the loss has unfairly enriched a wrongdoer.
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Diminution of value is the loss of financial worth of something because of damage. This book's extensive, in-depth coverage will help you determine the proper measure of damage for the appropriate jurisdiction and apply diminution in value damages to losses to property. Because courts do not use the same rules to calculate damages,