Definition of consequential loss
WebJun 20, 2024 · ‘Consequential loss’ and ‘indirect loss’ mean the same thing ( British Sugar Plc -v- Projects Ltd [1997] EWCA Civ 2438 ). To recover losses resulting from a breach … WebConsequential loss may refer to economic loss caused by damage to property or other losses suffered due to a breach of contract. Consequential loss is typically defined as …
Definition of consequential loss
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WebThe consequential losses are any other losses beyond this measure that are caused by the breach and not too remote. Twice in his judgment, Nettle JA provided “profits lost or … Webconsequential loss. noun [ C or U ] uk us. LAW, INSURANCE. a loss of money that happens as a result of something wrong or illegal that someone else has done: We …
WebConsequential loss. In general terms, loss that does not directly result from a breach of contract and would ordinarily be considered too remote to be recoverable, but which, in …
WebNov 27, 2024 · A consequential loss is a loss occurring as the result of a business being unable to function normally due to damage to equipment or property or another peril. In … WebConsequential definition, following as an effect, result, or outcome; resultant; consequent. See more.
WebMar 29, 2024 · A consequential loss is a loss sustained by a business when it is unable to use its assets in the intended manner. A consequential loss typically arises as the …
WebJun 20, 2024 · It would be best to use the phrase ‘indirect losses’ instead of ‘consequential losses’ in drafting. Whilst the definition for consequential loss is well-established by the Court of Appeal in British Sugar, there have been comments made in obiter in Transocean Drilling UK Ltd -v- Providence Resources Plc [2016] EWCA Civ 372 … paint sector in indiaWebConsequential loss (also known as indirect loss) arises from a special circumstance of the case, not in the usual course of things. It is recoverable only if the paying party knew … sugar and slice bakery winter haven flWebJan 18, 2024 · In the case of Star Polaris LLC ("Star") v HHIC-Phil Inc ("HHIC") [2016] EWHC 2941, the High Court departing from the customary explanation of 'consequential and special losses' the falling within the second limb of Hadley v Baxendale (1854) 9 Ex 341. A clause in a shipbuilding contract (the 'Contract') excluding general in … sugar and seasonal allergiesWebDec 20, 2024 · The courts have recognised two types of losses that could result from a breach of contract, namely: Direct losses: Those that flow naturally from the breach and can be reasonably foreseen (e.g. the costs of repair where defective building works have caused property damage); and. Indirect (or consequential) losses: Those that do not arise in … sugar and soul brownie cookiesWebAug 12, 2024 · That cap can be anything the parties negotiate but in my experience it ranges anywhere from 5% to 15% of the contract value. For example, a 10% consequential damage liability cap on a $30 million ... sugar and slice on mainWebApr 12, 2024 · Generally, consequential loss (also called indirect loss) is the non-dominant loss from a breach of contract. They are probable consequences or losses … paint seaweedWebAug 16, 2011 · Direct loss happens in what a reasonable person would consider to be the 'usual course of things' or 'ordinary circumstances'. loss that does not arise naturally but that "may reasonably be supposed to have been in the contemplation of both parties, at the time they made the contract, as the probable result of the breach". Indirect, or ... paint seashells ideas