Loss Definition

GLOSSARY

Published by a ��Ƶ Corporate Crime expert

What does Loss mean?

The term 'loss' appears in many statutes and is not generally restricted to permanent deprivation.

For example, under s 34 of the Theft Act 1968, while 'loss' extends only to loss in money or other property it also extends to any such loss which is merely temporary and includes a loss by not getting what one might get as well as parting with what one has. 'Loss' is similarly defined by s 5 of the Fraud Act 2006.

View the related checklists about Loss

MVNO agreement—checklist

MVNO agreement—checklist This Checklist covers some of the main provisions to be included in a mobile virtual network operator (MVNO) agreement under which a mobile network operator supplier will provide wholesale access services to an MVNO for resale to its own retail customers. It covers some of the main provisions that are specific to an agreement of this kind. See also the Precedent: MVNO agreement. In this Checklist, the following definitions are used: • Agreement—means the MVNO agreement between the MVNO and the Supplier for the provision of the Services • End-User—means a customer of the MVNO • IPR—means intellectual property rights • MVNO—means mobile virtual network operator, the customer in the Agreement • Services—means the wholesale network services being provided to the MVNO by the Supplier • Supplier—means the mobile network operator providing network services to the MVNO The third column can be used to record observations or comments as the Checklist is worked through. Checklist Further information Notes (if any) General terms and conditions ☐ Consider duration....

Sentencing Guidelines for Corporate offenders—Money laundering checklist

Sentencing Guidelines for Corporate offenders—Money laundering checklist This Checklist summarises the Sentencing Council’s guidelines for money laundering offences committed by a corporate (Money Laundering Guidelines). The Money Laundering Guidelines can be accessed here: • Magistrates’ Court Sentencing Guideline—Corporate offenders: fraud, bribery and money laundering—for use in cases involving corporates being sentenced in the magistrates’ court • Crown Court Sentencing Guideline—Corporate offenders: fraud, bribery and money laundering—for use in cases involving corporates being sentenced in the Crown Court The Sentencing Council also publishes a number of overarching guidelines, which should be considered in respect of all sentencing exercises. These include: • Totality guideline (Crown Court) • Totality guideline (magistrates’ court) • General guideline—overarching principles (Crown Court) • General guideline—overarching principles (magistrates’ court) • Reduction in sentence for a guilty plea (Crown Court) • Reduction in sentence for a guilty plea (magistrates’ court) For more information, see Practice Note: Sentences imposed following conviction. Among these overarching guidelines, the General guideline: overarching principles (the General guideline) is specifically designed...

Failure to deliver up property, concealment of criminal property and failure to account for losses

Offence of failure to deliver up property to, or concealing property from official receiver or trusteeA bankrupt commits an offence if they: •fail to deliver up any property to the official receiver or trustee which they are required by law to deliver up and which is in their possession or under their control. The official receiver or trustee may direct the bankrupt to give possession of only part of their property in which case only that part is relevant for the purposes of the offence•conceal any debt due to or from them or conceals any property which they are required to deliver up to the official receiver or trustee the value of which is not less than the prescribed amount•conceal debts or property valued at not less than the prescribed amount during the 12 months preceding the presentation of the petition or between the presentation of the petition and the commencement of the bankruptcyThe offence under section 354 is triable either in the magistrates' court or the Crown Court.Offence of...

Extinguishing vehicular rights on highways under TCPA 1990, s 249

Extinguishing vehicular rights on highways under TCPA 1990, s 249 Section 249 of the Town and Country Planning Act 1990 (TCPA 1990) provides that an order to extinguish vehicular rights on a highway may be made where certain conditions are fulfilled. The section is mainly used for pedestrian schemes or to create a cul-de-sac of a side road which would otherwise lead onto a busy main road. It can also be used to remove vehicular rights on byway open to all traffic. See Practice Note: Public rights of way. Closure of a highway can only be commenced if a planning authority resolves that the action is necessary to improve the amenity of their local area (see below). Procedure for making orders The procedure for making orders under TCPA 1990, s 249 is set out in TCPA 1990, s 252. Before making an order, the Secretary of State or the Council of a London Borough must take the following steps: • publish in at least one local newspaper circulating...

Discover our 4612 Practice Notes on Loss

Warranty limitations—pro-seller—share purchase agreement

Insert the following definitions as new definitions into clause 1 of Precedent: Share purchase agreement—pro-buyer—corporate seller—conditional—long form: 1 Definitions and interpretation Claim means a claim by the Buyer for any breach of the provisions of this Agreement (including a claim for breach of the Warranties); Data Room means the data room relating to the [Company OR Group] comprising all contracts, agreements, licences, documents and other information made available to the Buyer and its advisers, as listed in the Data Room index attached to the Disclosure Letter; The ScheduleLimitations on the Warranties ...

Indemnity clause—infringement of third party IP rights (consultant appointment)

Indemnity

Dive into our 1203 Precedents related to Loss

What is motor vehicle or road traffic accident insurance?

What is motor vehicle or road traffic accident insurance? In the UK, motor insurance is a mandatory insurance policy for any vehicle owner or driver unless the vehicle is declared as off the road. There are heavy penalties, both civil and criminal, for uninsured drivers (who are caught). The mandatory insurance regime is intended to protect the general public (including pedestrians and other non-vehicle users) against personal injury and damage caused in a road traffic accident. Types of motor insurance policies The motor insurance market is split into three main types of insurance: third-party only; third-party fire and theft; and comprehensive policies: • third-party only policies provide the minimum level of cover required by the law, namely the Road Traffic Act 1988 (RTA 1988). RTA 1988 mandates that motor insurance must at the very least cover the risk of death, personal injury or property damage to third parties caused by the insured vehicle • third-party fire and theft provides third-party cover as described above but in addition...

If administrators of a policyholder did not notify insurers of a claim against the policyholder within the 28-day time limit stated in the policy, can insurers reject cover?

If administrators of a policyholder did not notify insurers of a claim against the policyholder within the 28-day time limit stated in the policy, can insurers reject cover? It is assumed that the claim would otherwise trigger cover under the insurance policy and that it is a liability insurance policy. Under a liability insurance policy, a notification clause is framed as a condition precedent to indemnity under the policy, to allow insurers to investigate the claim at an early stage. In the absence of a clause allowing for extended reporting of claims notifications, an insurer can rely on a breach of a condition precedent to deny liability, regardless of whether insurers have suffered any prejudice. See Practice Note: Liability insurance—notification of claims and circumstances and defence of claims. It should be noted that the purpose of section 11 of the Insurance Act 2015 relates to terms that define the risk as a whole, and it is to prevent insurers from relying on a breach unconnected to the...

See the 1091 Q&As about Loss

Insurers urge shared approach to define major cyber-events

Law360, London: Limited historical evidence about major cyber-events makes it difficult to define the risks insurers face, experts have said, as they urge businesses to consider a shared approach when they describe 'one of the most' prominent dangers to the sector.

COP29 round-up—11 November 2024 (Opening Day)

The 29th Conference of the Parties of the United Nations Framework Convention on Climate Change (COP29) officially began on 11 November 2024 in Baku, Azerbaijan. The United Arab Emirates have handed over presidency to H.E. Mukhtar Babayev, having hosted COP28 in November 2023. Mr Babayev, along with UN Climate Change Executive Secretary, Simon Stiell, emphasised the need for parties to commit to an agreement on climate finance. The EU also issued a joint statement reaffirming its commitment to strengthening gender integration in global climate action.

Read the latest 9604 News articles on Loss

Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business–all whilst saving time and reducing risk.

Case studies

"It gives us a really broad coverage of the law, as well as the specialist areas we have to deal with: contracting, procurement, employment law, governance. I've found some fairly obscure case law on LexisLibrary, very quickly."

Walsall Council

Access all documents on Loss

GET ACCESS NOW

Top

Trial

��Ƶ

GLOSSARY

Loss definition

What does Loss mean?

View the related checklists about Loss

MVNO agreement—checklist

Sentencing Guidelines for Corporate offenders—Money laundering checklist

View the related practice notes about Loss

Failure to deliver up property, concealment of criminal property and failure to account for losses

Extinguishing vehicular rights on highways under TCPA 1990, s 249

View the related precedents about Loss

Warranty limitations—pro-seller—share purchase agreement

Indemnity clause—infringement of third party IP rights (consultant appointment)

View the related q&as about Loss

What is motor vehicle or road traffic accident insurance?

If administrators of a policyholder did not notify insurers of a claim against the policyholder within the 28-day time limit stated in the policy, can insurers reject cover?

View the related News about Loss

Insurers urge shared approach to define major cyber-events

COP29 round-up—11 November 2024 (Opening Day)

Call us on

Popular Links

HELP & SUPPORT

LEGAL SOLUTIONS

Policies

������Ƶ

Related Content

Related Glossary Terms

GLOSSARY

Loss definition

What does Loss mean?

View the related checklists about Loss

MVNO agreement—checklist

Sentencing Guidelines for Corporate offenders—Money laundering checklist

View the related practice notes about Loss

Failure to deliver up property, concealment of criminal property and failure to account for losses

Extinguishing vehicular rights on highways under TCPA 1990, s 249

View the related precedents about Loss

Warranty limitations—pro-seller—share purchase agreement

Indemnity clause—infringement of third party IP rights (consultant appointment)

View the related q&as about Loss

What is motor vehicle or road traffic accident insurance?

If administrators of a policyholder did not notify insurers of a claim against the policyholder within the 28-day time limit stated in the policy, can insurers reject cover?

View the related News about Loss

Insurers urge shared approach to define major cyber-events

COP29 round-up—11 November 2024 (Opening Day)

Call us on

Popular Links

HELP & SUPPORT

LEGAL SOLUTIONS

Policies

��Ƶ