out–of–pocket rule


out–of–pocket rule
out–of–pocket rule n: a measure of damages from fraud used in some jurisdictions that is based on the difference between the amount paid by the plaintiff and the market value of the thing paid for rather than the value attributed by the defendant compare benefit of the bargain

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

Look at other dictionaries:

  • out-of-pocket rule — n. The principle that the damages in a breach of contract or warranty case should constitute the difference between what was paid for the goods or services and what their actual value is. See also benefit of the bargain rule. Webster s New World… …   Law dictionary

  • out-of-pocket-loss rule — A rule of damages for fraud in misrepresentation of value, quality, or condition of property, that the defrauded party is entitled not to the benefit of the bargain, but only to the amount that he is out of pocket by reason of the fraud, which is …   Ballentine's law dictionary

  • out-of-pocket loss — As measure of damages, is the difference between the value of what the purchaser parted with (i.e., the purchase price paid by him) and the value of what he has received (i.e., the actual market value of the goods). Otte v. Ron Tonkin Chevrolet… …   Black's law dictionary

  • out-of-pocket loss rule — See out of pocket loss …   Black's law dictionary

  • Pocket veto — A pocket veto is a legislative maneuver in American federal lawmaking that allows the President to indirectly veto a bill. The U.S. Constitution requires the President to sign or veto any legislation placed on his desk within ten days (not… …   Wikipedia

  • pocket judgment — Statute Stat ute ( [ u]t), n. [F. statut, LL. statutum, from L. statutus, p. p. of statuere to set, station, ordain, fr. status position, station, fr. stare, statum, to stand. See {Stand}, and cf. {Constitute}, {Destitute}.] 1. An act of the… …   The Collaborative International Dictionary of English

  • benefit-of-the-bargain rule — n. 1 In breach of contract cases, the principle that the aggrieved party is entitled from the party who breached the contract to everything that he would have received, including profits, if the breach had not occurred. 2 In cases involving fraud …   Law dictionary

  • English rule (legal term) — In the field of law and economics, the English Rule is a rule regarding assessment of attorneys fees arising out of litigation. The English Rule provides that the party who loses in court pays the other party s attorney s fees. The English Rule… …   Wikipedia

  • Slide rule — For other uses, see Slide rule (disambiguation). A typical ten inch student slide rule (Pickett N902 T simplex trig). The slide rule, also known colloquially as a slipstick,[1] is a mechanical analog computer. The slide rule is used primarily for …   Wikipedia

  • Harry in Your Pocket — Infobox Film name = Harry in Your Pocket caption = original film poster director = Bruce Geller producer = Bruce Geller Alan Godfrey writer = James Buchanan Ronald Austin starring = James Coburn Michael Sarrazin Trish Van Devere Walter Pidgeon… …   Wikipedia