economic loss

A monetary loss such as lost wages or lost profits.

• The term usu. refers to a type of damages recoverable in a lawsuit. For example, in a products-liability suit, economic loss includes the cost of repair or replacement of defective property, as well as commercial loss for the property’s inadequate value and consequent loss of profits or use. [Cases: Damages 36, 40(1). C.J.S. Damages §§ 53, 58, 61; Torts§ 26.]

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词条贡献者

双语律师Denise，知名法学院国际私法专业，擅长翻译各类与国际争议解决相关的法律文件。