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loss definition - legal

n

  1. The death of an insured person or damage to insured property.
  2. The amount that the value of personal or real property exceeds the proceeds from its sale.
  3. Generally, the complete or partial diminishment of the value of an asset or of a human life.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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