Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

lost profits

Read a random definition: block-booking

A quick definition of lost profits:

Lost profits refer to the money a seller would have made if a buyer had not broken a contract. This is a way for the seller to be compensated for the profits they would have earned if the sale had gone through as planned.

A more thorough explanation:

Definition: Lost profits refer to the amount of money that a seller would have earned if a buyer had not breached a contract. It is a measure of damages that allows the seller to collect the profits that would have been made on the sale.

Example: Let's say that a company enters into a contract to sell 100 units of a product to another company for $10,000. However, the buyer breaches the contract and fails to purchase the products. The seller can claim lost profits, which would be the amount of money they would have earned if the sale had gone through. In this case, the lost profits would be $10,000.

Another example: A restaurant owner enters into a contract with a catering company to provide food for a large event. The catering company cancels the contract at the last minute, causing the restaurant owner to lose out on potential profits from the event. The lost profits in this case would be the amount of money the restaurant owner would have earned from catering the event.

The examples illustrate how lost profits are calculated and why they are important in contract law. They allow the injured party to recover the amount of money they would have earned if the contract had been fulfilled.

lost or not lost | lost-sales-of-unpatented-items theory

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
snow
17:53
tf is going on in the chat rn
windyMagician
17:54
i heard guys like it when it's sloppy so spitting on it helps
HopefullyInLawSchool
17:54
Typically yes just for hand jobs
what if you have a dry mouth
so sad
JumpySubsequentDolphin
17:56
so true waspy
windyMagician
17:56
that's why they invented flavored lube
looking into this
babycat
17:57
I don’t really do hand jobs. I just feel like if you want a hand on your dick you can do that yourself, you don’t need me for that
windyMagician
17:57
that part
JumpySubsequentDolphin
17:57
but things feel better when others do them
snow
17:57
its different
snow
17:58
^
JumpySubsequentDolphin
17:58
like i can give myself a massage but it’s nicer when someone else does it for me
WorthlessAttractiveZombie
17:58
so trye
WorthlessAttractiveZombie
17:58
true
what the hell have i walked into 😭
WorthlessAttractiveZombie
18:00
we're talking about the jobs we want after we get into law school
oh yeah, sure!
babycat
18:03
Yeah but do you prefer a hand job to oral? I feel like I’ve never met anyone who likes that better. I guess the perk is that it’s less messy?
BulbasaurNoLikeCardio
18:04
Did the TAMU interview, my dog that is like a husky decided to stick his snoot under the door crack deepy snort/inhale then YYEEELLLLL during my last answer so yeah hopefully they love dogs.
BulbasaurNoLikeCardio
18:04
not sure what conversation is being had but blowie beat a handjob, i can just give myself a handie
babycat
18:06
@BulbasaurNoLikeCardio: this is exactly what I’m saying! you get it
18:06
hello
JumpySubsequentDolphin
18:06
hi Eggan
18:06
after a long day at work i come home to no decisions
18:07
daily "berk td" imminent
18:07
berk today :eyes:
BulbasaurNoLikeCardio
18:07
and if we are being real, I give myself a much better handie then any girl ever has
JumpySubsequentDolphin
18:07
😧
LSD+ is ad-free, with DMs, discounts, case briefs & more.