English Dictionary

diminished value

名詞

不可算名詞

(law, insurance) A compensable loss in a property item's value after having been damaged and subsequently repaired or, in the case of a construction, having been constructed improperly or not according to contract.

日本語の意味

法律や保険の文脈で、損傷を受けた後に修理された、または建設が不適切・契約に沿わず行われたことにより、物件の市場価値が補填対象となるほど低下した状態

After the collision and subsequent repairs, the owner filed a claim for diminished value, arguing that the car's market price had not fully recovered.

衝突とその後の修理を受けた後、所有者は車の市場価格が完全に回復していないと主張し、価値の減少に対する請求を行った。

意味（1）

(law, insurance) A compensable loss in a property item's value after having been damaged and subsequently repaired or, in the case of a construction, having been constructed improperly or not according to contract.

Damages are awarded for defects and omissions in the performance of construction contracts giving the damaged party what was contracted for or its equivalent. [references] The primary measure of defect damages is the cost of either correcting the defect or supplying the omission. This is known as the cost-of-correction rule. [references] This measure will be applied even though it may cost somewhat more to correct the defects than to have constructed the improvement to real property properly in the first place. Nevertheless the diminished value rule will be applied instead if correcting the defect or supplying the omission involves unreasonable economic waste because the cost of correction is materially disproportionate to the increased value that it would produce. The recovery for diminished value is the difference between the value the improvement would have had if properly constructed and the value as actually constructed. If, after construction defects have been corrected, the building still does not have the value it would have had if it had been constructed properly, the property owner may be able to recover both the cost-of-correction and the remaining diminished value.