diminution in value

Legal Definition of 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

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“Diminution in value.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/diminution%20in%20value. Accessed 5 May. 2021.

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