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LSDefine

Simple English definitions for legal terms

actual loss

Read a random definition: parliamentary law

A quick definition of actual loss:

Actual loss is when something valuable is lost or damaged unexpectedly. For example, if you buy a toy and it breaks, that's an actual loss. If you have insurance, the insurance company will pay you for the loss. If you sell something for less than you paid for it, that's also an actual loss. The amount of the loss is the difference between what you paid and what you sold it for.

A more thorough explanation:

Actual loss refers to an undesirable outcome of a risk that results in the disappearance or reduction of value, usually in an unexpected or unpredictable way. It can be calculated by determining the difference between the original cost of something and its later selling price.

Examples of actual loss include:

  • A car being totaled in an accident, resulting in a decrease in its value
  • A property being damaged by a natural disaster, causing financial detriment to the owner
  • A person losing possession of their phone, resulting in the loss of its value

These examples illustrate how actual loss can occur in various situations and result in financial harm to individuals or entities.

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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