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Diminution in Value

Diminution in Value

Definition

A measure of recovery based on the decrease in an item's value as a result of some harm. For example, in the torts context, diminution-in-value damages are awarded based on the difference in the value of property before and after a damaging incident. In the context of a breach of warranty, the UCC allows a buyer to recover diminution-in-value damages based on the difference in the value of goods as accepted and their value if the goods had been as warranted. In the context of a construction contract, diminution-in-value damages are measured by the difference between the value of a structure with a defect and the value of the structure absent the breach.

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