economic-loss rule. Torts. The principle that a plaintiff cannot sue in tort to recover for purely monetary loss — as opposed to physical injury or property damage — caused by the defendant. • Many states recognize an exception to this rule when the defendant commits fraud or negligent misrepresentation, or when a special relationship exists […]
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cancellation, n. 1. The act of defacing or obliterating a writing (as by marking lines across it) with the intention of rendering it void. 2. An annulment or termination of a promise or an obligation. [Cases: Cancellation of Instru-ments 1; Contracts 249. C.J.S. Cancellation of Instruments; Rescission §§ 2–7; Contracts §§ 422, 424, 427–428, 456,
indemnification (in-dem-n[schwa]-fi-kay-sh[schwa]n), n. 1. The action of compensating for loss or damage sustained. 2. The compensation so made. [Cases: Indemnity 20.] — indemnificatory, adj.
A loss of part of the insured property; damage not amounting to a total loss. Cf. total loss. [Cases: Insurance 2177. C.J.S. Insurance § 1104.]
forcible entry and detainer. 1. The act of violently taking and keeping possession of lands and tenements without legal authority. [Cases: Forcible Entry and Detainer 4.] “To walk across another’s land, or to enter his building, without privilege, is a trespass, but this in itself, while a civil wrong, is not a crime. However, if
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A suretyship in which the surety is answerable in damages. [Cases: Principal and Surety 65. C.J.S. Principal and Surety § 70.]
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recoupment (ri-koop-m[schwa]nt), n. 1. The recovery or regaining of something, esp. expenses. 2. The withholding, for equitable reasons, of all or part of something that is due. See EQUITABLE RECOUPMENT(1), (2). 3. Reduction of a plaintiff’s damages because of a demand by the defendant arising out of the same transaction. See EQUITABLE RECOUPMENT(3). Cf. SETOFF(2).
elegit ([schwa]-lee-jit). [Latin “he has chosen”] Hist. A writ of execution (first given by 13 Edw., ch. 18) either upon a judgment for a debt or damages or upon the forfeiture of a recognizance taken in the king’s court. • Under it, the defendant’s goods and chattels were appraised and, except for plow beasts, delivered
substantial-performance doctrine. The rule that if a good-faith attempt to perform does not precisely meet the terms of an agreement or statutory requirements, the performance will still be considered complete if the essential purpose is accomplished, subject to a claim for damages for the shortfall. • Under the Uniform Probate Code, a will that is
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A provision in some commercial general liability policies, excluding coverage for damages arising from an insured’s employment practices, including any policy, action, or omission — such as coercion, demotion, evaluation, reassignment, discipline, defamation, harassment, humiliation, or discrimination — that is directed at the person injured. [Cases: Insurance 2278(11).]
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