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LSDefine

Simple English definitions for legal terms

breakage

Read a random definition: Warehouseman's lien

A quick definition of breakage:

Breakage is when a manufacturer gives a buyer some money back because some of the goods were damaged during shipping or while being stored. It's like a refund for things that got broken. It can also mean that a little bit of money is kept by racetrack owners from bets, so they don't have to give out really small winnings.

A more thorough explanation:

Definition: Breakage refers to two different things:

  1. An allowance given by a manufacturer to a buyer for goods that were damaged during transit or storage.
  2. Insignificant amounts of money retained by racetrack promoters from bets. This is done to avoid the inconvenience of counting and paying out inconsequential winnings.

For example, if a shipment of fragile items like glassware or electronics is being transported from one place to another, there is always a risk of some items getting damaged during transit. In such cases, the manufacturer may offer a breakage allowance to the buyer, which is a discount or compensation for the damaged goods.

Similarly, in horse racing, there are often small amounts of money left over from bets that are not paid out to the winners. This is because it is not worth the time and effort to count and pay out these small amounts. Instead, the racetrack promoters retain this money as breakage.

These examples illustrate how breakage is used in different contexts to refer to small amounts of money that are either compensated for or retained due to their insignificance.

break | break a house

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19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
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