total loss

total loss definition - legal

n

An insurance contract concept that is said to exist if property is destroyed to the extent as to be no longer useful for the purpose for which it was intended, or that renders it useless and of no value to its owner.

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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