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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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HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
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