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

Dictionary Entries Near diminution in value

Cite this Entry

“Diminution in value.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/diminution%20in%20value. Accessed 17 Apr. 2024.

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