loss
loss n
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
◇ 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 constructive total loss in this entry
capital loss: the amount by which the book value of a capital asset exceeds the amount realized from the sale or exchange of the asset
casualty loss: loss of property as a result of a fire, storm, shipwreck, or other catastrophic event
consequential loss: a loss that arises as an indirect result of an act or event – called also indirect loss; compare direct loss in this entry
constructive total loss: a loss in marine insurance in which the cost of repairing or recovering a ship or its cargo would be more than the ship or cargo is worth compare actual total loss in this entry
direct loss: a loss arising directly from an act or event compare consequential loss in this entry
in·di·rect loss: consequential loss in this entry
net op·er·at·ing loss: the amount by which the expenses of operating a business exceed the income derived from it see also carryback, carryover
ordinary loss: a loss from the sale or exchange of any asset that is not a capital asset
partial loss: a loss arising from damage to property that does not render it a total loss
total loss: a loss arising from damage to property that is so substantial as to make the property valueless to an insured
2: the act or fact of suffering physical, emotional, or esp. economic harm or detriment

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

loss
I noun calamity, catastrophe, cost, damnum, decline, decrement, deprivation, detrimentum, disaster, failure, forfeit, forfeiture, iactura, ill fortune, ill luck, misfortune, privation, removal, ruin, sacrifice, waste associated concepts: actual loss, allowable loss, business loss, capital loss, cause of loss, consequential loss, constructive total loss, damages, deductible, direct loss, financial loss, guaranty funds, indemnification, involuntary losses, irreparable loss, loss of bargain, loss of earnings, loss of life, loss of profits, loss of services, loss payable clause, loss reserves, measure of damages, net loss, operating loss, out-of-pocket loss, pecuniary loss, permanent loss, profit and loss, recovery of losses from bad debts, salvage loss foreign phrases:
- Nemo debet locupletari ex aiterius incommodo. — No one ought to gain by another's loss
- Fictio legis inique operatur alieni damnum vel injuriam. — Fiction of law is wrongful if it works loss or harm to anyone
- Non omne damnum induclt injuriam. — Not every loss produces an injury
- Lex citius tolerare vult privatum damnum quam publicum malum. — The law would rather tolerate a private loss than a public evil
- Officium neminl debet esse damnosum. — An office ought to be injurious to no one
- Non videntur rem amittere qulbus propria non fult. — Persons to whom a thing did not belong are not considered to have lost it
II index abridgment (disentitlement), bad debt, bankruptcy, calamity, consumption, cost (penalty), damage, damages, decline, decrease, decrement, defeat, deficiency, deficit, detriment, disadvantage, erosion, expense (sacrifice), failure (lack of success), forfeiture (thing forfeited), impairment (damage), injury, miscarriage, penalty, prejudice (injury), privation, toll (effect)

Burton's Legal Thesaurus. . 2006


loss
n.
The fact or act of losing something; something that is lost; the detriment or damage resulting from the destruction or ruin of something; injury; expense.

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


loss
1) The value placed on injury or damages due to an accident caused by another's negligence, breach of contract, or other wrongdoing. The amount of monetary damages can be determined in a lawsuit.
2) When expenses are greater than profits, the difference between the amount of money spent and the income.
Category: Accidents & Injuries
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Criminal Law
Category: Personal Finance & Retirement → Taxes → Tax Audits
Category: Small Claims Court & Lawsuits
Category: Small Claims Court

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

loss
The occurrence of the event for which insurance pays.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


loss
n.
1 The death of an insured person or damage to insured property.
2 The amount that the value of personal or real property exceeds the proceeds from its sale.
3 Generally, the complete or partial diminishment of the value of an asset or of a human life.

Webster's New World Law Dictionary. . 2000.


loss
Diminution, reduction, depreciation, decrease in value; that which cannot be recovered.

Dictionary from West's Encyclopedia of American Law. 2005.


loss
Diminution, reduction, depreciation, decrease in value; that which cannot be recovered.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

loss
n.
   1) the value placed on injury or damages due to an accident caused by another's negligence, a breach of contract or other wrongdoing. The amount of monetary damages can be determined in a lawsuit.
   2) when expenses are greater than profits, the difference between the amount of money spent and the income.
   See also: damages

Law dictionary. . 2013.

Synonyms:

Look at other dictionaries:

  • loss — is a generic and relative term. It signifies the act of losing or the thing lost; it is not a word of limited, hard and fast meaning and has been held synonymous with, or equivalent to, damage , damages , deprivation , detriment , injury , and… …   Black's law dictionary

  • loss — is a generic and relative term. It signifies the act of losing or the thing lost; it is not a word of limited, hard and fast meaning and has been held synonymous with, or equivalent to, damage , damages , deprivation , detriment , injury , and… …   Black's law dictionary

  • loss — W1S2 [lɔs US lo:s] n [: Old English; Origin: los destruction ] 1.) [U and C] the fact of no longer having something, or of having less of it than you used to have, or the process by which this happens loss of ▪ The court awarded Ms Dixon £7,000… …   Dictionary of contemporary English

  • loss — [ lɔs ] noun *** ▸ 1 no longer having something ▸ 2 having less than before ▸ 3 failure to win race etc. ▸ 4 money lost ▸ 5 death of someone ▸ 6 sadness from death/loss ▸ 7 disadvantage from loss ▸ + PHRASES 1. ) count or uncount the state of not …   Usage of the words and phrases in modern English

  • Loss — may refer to:*A negative difference between retail price and cost of production *An event in which the team or individual in question did not win. *Loss (baseball), a pitching statistic in baseball *Attenuation, a reduction in amplitude and… …   Wikipedia

  • Loss — (l[o^]s; 115), n. [AS. los loss, losing, fr. le[ o]san to lose. [root]127. See {Lose}, v. t.] 1. The act of losing; failure; destruction; privation; as, the loss of property; loss of money by gaming; loss of health or reputation. [1913 Webster]… …   The Collaborative International Dictionary of English

  • loss — [lôs, läs] n. [ME los < pp. of losen, lesen, to LOSE] 1. a losing or being lost 2. an instance of this 3. the damage, trouble, disadvantage, deprivation, etc. caused by losing something 4. the person, thing, or amount lost 5. any reduction,… …   English World dictionary

  • loss — (n.) O.E. los loss, destruction, from P.Gmc. *lausa (see LOSE (Cf. lose)). The modern word, however, probably evolved 14c. with a weaker sense, from lost, the original pp. of lose. Phrase at a loss (1590s) originally refers to hounds losing the… …   Etymology dictionary

  • loss — ► NOUN 1) the fact or process of losing something or someone. 2) the feeling of grief after losing a valued person or thing. 3) a person or thing that is badly missed when lost. 4) a defeat in sport. ● at a loss Cf. ↑at a loss …   English terms dictionary

  • løss — sb., en (en jordart), i sms. løss , fx løssaflejring …   Dansk ordbog

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