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The American Heritage Dictionary of Business Terms » mitigation of damages
mitigation of damages
mitigation of damages definition - business
mitigation of damages
- In law, a successful plaintiff 's obligation to make an effort to minimize further damages. For example, a homeowner whose home suffered damage from a tree limb dropped by a tree service is obligated to take reasonable actions to reduce further damage from water and wind.
- A defense utilized to reduce a damages award in a liability case. Defendants involved in securities litigation often bring up mitigation of damages as part of their defense. In these cases it is argued that the plaintiffs could, but didn't, take action to reduce the amount of damages.
The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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