Diminution in value is a legal term of art used when calculating damages in a legal dispute, and describes a measure of value lost due to a circumstance or set of circumstances that caused the loss. Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate compensatory damages.[1]
In legal damages theories, diminution in value is often calculated for compensatory special damages when a loss is monetarily quantifiable, and for restitution or disgorgement damages when the loss has unfairly enriched a wrongdoer.[1]
Judicial remedies
Legal remedies (Damages)
Punitive damages
Incidental damages
Consequential damages
Liquidated damages
Reliance damages
Statutory damages
Treble damages
Equitable remedies
Injunction
Specific performance
Constructive trust
Account of profits
Rescission
Rectification
Subrogation
Related issues
Adequate remedy
Election of remedies
Provisional remedy
Tracing
Court costs
Declaratory relief
Restitution
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^ abBlack's Law Dictionary, 6th edition, West Publishing Co., 1990, p. 458, 390-92.
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