Consequential Damage- Term of the day.
Term of the Day
For Monday, January 19, 2009
consequential damage
Definition
Damage or injury that does not directly and immediately result from a wrongful act, but instead indirectly and/or after elapse of some time. Consequential damage usually cannot be foreseen and is often unrecoverable through litigation, unless the offending party was notified in advance that the aggrieved party would suffer such damage. Also called indirect damage or special damage. See also consequential loss.
consequential damage is in the Corporate, Commercial, & General Law and General, Marine, & Life Insurance subjects.
consequential damage appears in the definitions of the following terms: special damage and indirect damage.
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