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Simple English definitions for legal terms

lucrum interceptum

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A quick definition of lucrum interceptum:

Term: LUCRUM INTERCEPTUM

Definition: Lucrum interceptum, also known as lucrum cessans, is a legal term that refers to damages awarded to compensate for a loss of anticipated profit in addition to an actual realizable loss. This means that if someone was expecting to make a certain amount of money but was unable to due to someone else's actions, they may be entitled to compensation for the lost profit. It is also known as "ceasing gain" and is often used in legal cases to determine the amount of damages owed. See also DAMNUM EMERGENS.

A more thorough explanation:

Lucrum interceptum is a Latin term that means "ceasing gain." It refers to damages awarded to include a loss of anticipated profit in addition to an actual realizable loss. It is also known as lucrum cessans.

For example, if a business owner had a contract to sell 100 units of a product for $10 each, but due to a breach of contract by the buyer, the business owner only sold 50 units, they would have suffered a loss of $500 in actual realizable loss. However, if the business owner could have sold the remaining 50 units for $10 each, they would have suffered an additional loss of $500 in anticipated profit. Therefore, the total damages awarded would be $1000, including both the actual realizable loss and the loss of anticipated profit.

Another example could be a contractor who was hired to build a house for $100,000 but due to the client's breach of contract, the contractor was unable to complete the project. The contractor would be entitled to damages for the actual costs incurred in the project, as well as the loss of anticipated profit that they would have earned if the project had been completed.

These examples illustrate how lucrum interceptum is used to compensate for the loss of anticipated profit in addition to actual realizable loss.

lucrum cessans | luctuosa hereditas

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17:23
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CynicalOops
17:26
I got my brother tickets to a golf tournament and im going to get my mom ski lift tickets because she just moved near a ski resort
Dkk
18:08
Nice, I am on bad terms with my siblings so i am getting them nothing and they should get me nothing too and I am getting my mom a gift.
18:16
I just noticed that UMich has the majority of their acceptances really early on. Does anyone know what happens to mid-November applicants? Are we just cooked?
TGM
18:23
How long can I delay sending my fall grades if they hurt my GPA? I’m still waiting on decisions and ideally I’m hoping they decide BEFORE seeing my new grades
TGM
18:27
dropped my GPA below median for a couple of schools I’m applying to, when I was above median before
Dkk
18:32
@TGM: Not long enough to get another transcript to recover.
Dkk
18:33
Honestly you could just wait until someone actually asks for your fall grades. Who knows.
Dkk
18:34
@wigwav: It looks like if below medians it will not help but If applying in November it seems you are still middle of the cycle.
18:34
@wigwav: nah
TGM
18:34
like am I expected to send it unprompted or can I wait until a school requested it
Dkk
18:35
@TGM: Expected to send it unprompted but you can wait and see.
18:36
Is your LSAT also below median?
TGM
18:37
It’s above median, but I’m applying T6 with unimpressive softs, so even with a good LSAT it’s tough
texaslawhopefully
18:38
Yeah, then I would just wait as long as you can to send it
texaslawhopefully
18:38
For like HLS at least, if you wait till J6 then you may already have a decision
TGM
18:39
@texaslawhopefully: alas, haven’t even gotten an interview (applied around thanksgiving)
18:39
Yeah I would delay as long as you have plausible deniability
TGM
18:40
I actually do have a transcript issue that registrar needs to resolve, should I say that
TGM
18:41
(Course marked as Incomplete that’s supposed to be removed)
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
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Dkk
18:50
Med law easy done
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