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Simple English definitions for legal terms
damnum emergens
Read a random definition: price-renegotiation clause
A quick definition of damnum emergens:
Term: DAMNUM EMERGENS
Definition: Damnum emergens is a Latin term that means "damage arising." It refers to an actual loss that has been realized, such as a decrease in the value of property, as opposed to an expected future loss, such as loss of profit. For example, if someone's car is damaged in an accident, the cost of repairing the car would be considered damnum emergens. This is different from lucrum cessans, which refers to the loss of potential profit that could have been earned if the damage had not occurred. Damnum emergens can be immediate or consequential, and it must result in a pecuniary loss in order for legal action to be taken.
A more thorough explanation:
Damnum emergens is a Latin term that means "damage arising." It refers to an actual loss that has already occurred, as opposed to a potential future loss.
For example, if someone's car is damaged in an accident, the cost of repairing the car is an example of damnum emergens. This is because the loss has already happened, and the person has to pay for the repairs.
Another example of damnum emergens is if a person's property decreases in value due to a natural disaster. The decrease in value is an actual loss that has already occurred.
It's important to note that damnum emergens is different from lucrum cessans, which refers to a loss of potential profits. For example, if a business has to close for a day due to a power outage, the potential profits lost during that day would be an example of lucrum cessans.