diminution in value

Definition of "diminution in value"
  1. The measurement of damages after a contract breach, determined by the difference in value between what was promised and the actual outcome
How to use "diminution in value" in a sentence
  1. After the botched renovation, the homeowners sought compensation for the diminution in value of their house.
  2. The faulty repair work resulted in a diminution in value of the car.
  3. Due to shoddy construction, the building suffered a significant diminution in value.
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