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out-of-pocket rule

out-of-pocket rule definition - legal

The principle that the damages in a breach of contract or warranty case should constitute the difference between what was paid for the goods or services and what their actual value is. See also benefit-of-the-bargain rule.

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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out-of-pocket rule

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