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Loss of use is the inability, due to a tort or other injury to use a body part, animal, equipment, premises, or other property.Law.com defines it as "the inability to use an automobile, premises or some equipment due to damage to the vehicle, premises or articles caused by the negligence or other wrongdoing of another."
Corrective maintenance is a type of maintenance used for equipment after equipment break down or malfunction is often most expensive – not only can worn equipment damage other parts and cause multiple damage, but consequential repair and replacement costs and loss of revenues due to down time during overhaul can be significant.
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective. [1] [2] Such a loss may be an "actual total loss" or a "constructive total loss".
Risk of loss is a term used in the law of contracts to determine which party should bear the burden of risk for damage occurring to goods after the sale has been completed, but before delivery has occurred. Such considerations generally come into play after the contract is formed but before buyer receives goods, something bad happens.
The income loss covered may be due to disaster-related closing of the business facility or due to the rebuilding process after a disaster. It differs from property insurance in that a property insurance policy only covers the physical damage to the business, while the additional coverage allotted by the business interruption policy covers the ...
An equipment loan may not always be the right choice, but it can be instrumental in building a new business or buying expensive equipment. Businesses with tight cash flow should also consider an ...
Loss of diving weights, causing inability to maintain depth. If this happens with a significant decompression obligation, the risk of decompression sickness will be high. The CMAS Self-Rescue Diver training includes the use of a ratchet dive reel to control ascent rate in the event of unplanned positive buoyancy at depth due to loss of weights.
In an electrical or electronic circuit or power system part of the energy in play is dissipated by unwanted effects, including energy lost by unwanted heating of resistive components (electricity is also used for the intention of heating, which is not a loss), the effect of parasitic elements (resistance, capacitance, and inductance), skin effect, losses in the windings and cores of ...