Losing the use of an object for which a plaintiff would have a right of compensation, e.g. the loss of use of an automobile which had been wrongfully taken by another. … [Read more...]
LOST
An article is "lost" when the owner has lost the possession or custody of it, involuntarily and by any means, but more particularly by accident or his own negligence or forgetfulness, and when he is ignorant of its whereabouts or cannot recover it by an ordinarily diligent search. Lost or not lost. A phrase sometimes inserted in policies of marine insurance to signify that the … [Read more...]
LOST OR NOT LOST
These words are sometimes inserted in policies of marine insurance. They are used when the underwriter undertakes that if the ship or goods should be lost at the time of the insurance, still the underwriter is liable, provided there is no fraud. … [Read more...]
LOST PAPERS
When a paper containing an agreement between parties, a will, and the like, has been so mislaid, that after a diligent search it cannot be found, it is said to be lost. 2. When such a document has been lost, and it is required to prove its contents, the party must prove that he has made diligent search, and, in good faith, exhausted all sources of information accessible to him. … [Read more...]
LOST PROFITS
Breach of contract damages that make the non-breaching party whole by compensating the party for profits that would have been made but for the breach. … [Read more...]