Losses in UK Law

Leading Cases
  • Forster v Outred & Company
    • Court of Appeal (Civil Division)
    • 11 Mar 1981

    Mr. Stuart-Smith says that it is any detriment, liability or loss capable of assessment in money terms and it includes liabilities which may arise on a contingency, particularly a contingency over which the plaintiff has no control; things like loss of earning capacity, loss of a chance or bargain, loss of profit, losses incurred from onerous provisions or covenants in leases. They are all illustrations of a kind of loss which is meant by "actual" damage.

  • Transfield Shipping Inc. v Mercator Shipping Inc. (The Achilleas)
    • House of Lords
    • 09 Jul 2008

    It is generally accepted that a contracting party will be liable for damages for losses which are unforeseeably large, if loss of that type or kind fell within one or other of the rules in Hadley v Baxendale: see, for example, Staughton J in Transworld Oil Ltd v North Bay Shipping Corpn (The Rio Claro) [1987] Lloyd's Rep 173, 175 and Jackson v Royal Bank of Scotland plc [2005] 1 WLR 377.

    What is the basis for deciding whether loss is of the same type or a different type? The distinction must rest upon some principle of the law of contract. In my opinion, the only rational basis for the distinction is that it reflects what would have been reasonable and have been regarded by the contracting party as significant for the purposes of the risk he was undertaking.

  • British Transport Commission v Gourley
    • House of Lords
    • 08 Dic 1955

    In an action for personal injuries the damages are always divided into two main parts. First, there is what is referred to as special damage which has to be specially pleaded and proved. This consists of out-of-pocket expenses and loss of earnings incurred down to the date of trial, and is generally capable of substantially exact calculation. Secondly, there is general damage which the law implies and is not specially pleaded.

  • Threlfall v Jones (Inspector of Taxes) ; Gallagher v Same
    • Court of Appeal (Civil Division)
    • 30 Jun 1993

    Subject to any express or implied statutory rule, of which there is none here, the ordinary way to ascertain the profits or losses of a business is to apply accepted principles of commercial accountancy. That is the very purpose for which such principles are formulated. As has often been pointed out, such principles are not static : they may be modified, refined and elaborated over time as circumstances change and accounting insights sharpen.

  • Smith New Court Securities Ltd v Scrimgeour Vickers (Asset Management) Ltd and Another
    • House of Lords
    • 21 Nov 1996

    But in cases where property has been acquired in reliance on a fraudulent misrepresentation there are likely to be many cases where the general rule has to be departed from in order to give adequate compensation for the wrong done to the plaintiff, in particular where the fraud continues to influence the conduct of the plaintiff after the transaction is complete or where the result of the transaction induced by fraud is to lock the plaintiff into continuing to hold the asset acquired. But in cases where property has been acquired in reliance on a fraudulent misrepresentation there are likely to be many cases where the general rule has to be departed from in order to give adequate compensation for the wrong done to the plaintiff, in particular where the fraud continues to influence the conduct of the plaintiff after the transaction is complete or where the result of the transaction induced by fraud is to lock the plaintiff into continuing to hold the asset acquired.

  • Kuwait Airways Corporation v Iraqi Airways Company (Nos 4 & 5)
    • House of Lords
    • 2002

    Written large, the second inquiry concerns the extent of the loss for which the defendant ought fairly or reasonably or justly to be held liable (the epithets are interchangeable). The law has to set a limit to the causally connected losses for which a defendant is to be held responsible. Familiar principles, such as foreseeability, assist in promoting some consistency of general approach.

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Books & Journal Articles
  • Paradise losses.
    • Núm. 2000, Diciembre 2000
    • Financial Management (UK)
    • Cooper, Tim
    • Accountants in Indonesia
    ...It's got paddy fields, tropical sunshine, sandy beaches running down to the Indian Ocean -- and corruption, civil unrest, an appalling human rights record and an economy in crisis. Tim Cooper asks whether doing business in Indonesia is a fascinating ......
  • Fighting Energy Losses & Maintenance Costs
    • Núm. 82-5/6, Mayo 1982
    • Industrial Management & Data Systems
    • 22-22
    In a climate of intense economic pressure, more and more companies are examining ways of conserving energy and reducing maintenance costs. Apart from insulation methods and materials one of the cri...
  • Cutting fraud losses in Canadian organizations
    • Núm. 22-3, Julio 2015
    • Journal of Financial Crime
    • 295-304
    Purpose: – The purpose of this paper is to analyze the effect of various internal controls (i.e. hotlines, regular ethics (fraud) training, surprise audits, internal and external audits and backgro...
  • Losses of Chances in the Law
    • Núm. 59-2, Marzo 1996
    • The Modern Law Review
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Law Firm Commentaries
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