diminution in value
diminution in value: a theory of property damages in which the measure of damages for the breach of a contract or lease is equal to the difference between the value of the property in the condition promised and the value as it exists

Merriam-Webster’s Dictionary of Law. . 1996.

diminution in value
n.
A means of measuring damages in a breach of contract case in which the plaintiff may recover for a decrease in value to property caused by the breach.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


diminution in value
A way of assessing damages after a breach of a contract, which measures the difference between the value of the property as it was contractually promised and the value of the property as it currently exists or was constructed.
Category: Bankruptcy, Foreclosure & Debt
Category: Business, LLCs & Corporations
Category: Small Claims Court & Lawsuits

Nolo’s Plain-English Law Dictionary. . 2009.

diminution in value
n.
   in the event of a breach of contract, the decrease in value of property due to the failure to construct something exactly as specified in the contract.

Law dictionary. . 2013.

Look at other dictionaries:

  • 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… …   Wikipedia

  • diminution in value — Rule of damages which provides for difference between before and after value of property which has been damaged or taken. Big Rock Mountain Corp. v. Stearns Roger Corp., C.A.S.D., 388 F.2d 165, 168. If breach of contract results in defective or… …   Black's law dictionary

  • diminution in value — Rule of damages which provides for difference between before and after value of property which has been damaged or taken. Big Rock Mountain Corp. v. Stearns Roger Corp., C.A.S.D., 388 F.2d 165, 168. If breach of contract results in defective or… …   Black's law dictionary

  • permanent diminution in value — A fall in the value of an asset that is unlikely to be reversed. The fixed asset must be shown in the balance sheet at the reduced amount, which will be the estimated recoverable amount. A provision has to be made through the profit and loss… …   Accounting dictionary

  • temporary diminution in value — A fall in the value of an asset that is only expected to be for the short term. Under historical cost accounting, no adjustments are made for temporary diminutions (unless they become permanent). See also: permanent diminution in value …   Accounting dictionary

  • permanent diminution in value — A fall in the value of an asset that is unlikely to be reversed. The fixed asset must be shown in the balance sheet at the reduced amount, which will be the estimated recoverable amount A provision has to be made through the profit and loss… …   Big dictionary of business and management

  • diminution — UK US /ˌdɪmɪˈnjuːʃən/ US  / əˈnuː / noun [C or U] FORMAL ► a reduction in size, importance, or value: »After an accident, a vehicle will suffer a diminution in value …   Financial and business terms

  • value — The utility of an object in satisfying, directly or indirectly, the needs or desires of human beings, called by economists value in use, or its worth consisting in the power of purchasing other objects, called value in exchange. Joint Highway… …   Black's law dictionary

  • diminution — dim|i|nu|tion [ˌdımıˈnju:ʃən US ˈnu: ] n [U and C] formal [Date: 1300 1400; : Old French; Origin: Latin minuere to make less ] a reduction in the size, number, or amount of something diminution of/in ▪ a diminution in value …   Dictionary of contemporary English

  • diminution — noun (C, U) a reduction in the size, number, or amount of something (+ of/in): a diminution in value …   Longman dictionary of contemporary English

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