WebNov 27, 2014 · Consequential loss confuses business people and some recent cases have added to the confusion. The courts have adopted different approaches to clauses which seek to exclude or include consequential loss from the scope of damages that a party to an agreement can claim. What was once considered to be a consequential loss may now … WebA second or financial loss occurring as the result or a direct loss. Example: Additional living expenses incurred as the result of a private residence being rendered uninhabitable as the result of a fire or other type of direct loss; loss of rental income caused by a direct loss; loss of business income and extra expenses caused by a direct loss.
The importance of clear wording regarding "direct/indirect loss"
WebSome risks, however, have a more direct impact on people’s individual lives. Exposure to premature death, sickness, disability, unemployment, and dependent old age are examples of personal loss exposures when considered at the individual/personal level. An organization may also experience loss from these events when such events affect … WebAnswer (1 of 4): An example of a direct loss would be a fire that destroys the building. An example of an indirect loss would be the loss of income from not being able to open your business due to the fire. However, a … make and take snack jar pampered chef
Direct Damages Definition: 106 Samples Law Insider
WebA) an event that offer no opportunity for financial gain. B) the chance a loss will occur. C) a diversifiable risk. D) a contingency that increases the chance of a loss. A. All the following are direct losses except: A) a car is stolen. B) a house suffers flood damage. C) an apartment must be rented after a house is destroyed by fire. WebThis chapter is devoted to direct loss measurement and those direct loss data which should be included in loss estimates. ... as determined by a preliminary assessment of direct losses (for example, by using loss estimation models such as HAZUS). In this connection, the relevant agencies should explore with organizations that currently … WebLoss of profits can be direct loss. 1 Economic loss can be direct loss. 2 Additional construction costs associated with a delay can be consequential loss. 3. This article revisits the cases on consequential loss, considers what kinds of loss are probably now captured by the term and what is now “on market” for these kinds of exclusion clauses. make andy warhol style pictures