mitigation of damages

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mitigation of damages

A legal principle that those who are injured by a breach of contract have a duty to take all steps necessary to decrease their damages, rather than simply sitting idly by and suing the defaulting party for all sums due under the contract.A landlord has a duty to mitigate its damages and find another tenant for property,with the defaulting tenant to be given credit for the value of the replacement lease.

References in periodicals archive ?
Capping a list of Mitigation Investment Strategy target outcomes: The built environment--whether gray or nature-based infrastructure, and including lifeline infrastructure, buildings and homes--becomes more resilient and promotes community resilience.
FEMA measures and Mitigation Investment Strategy validate the work of the National Ready Mixed Concrete Association and closely aligned Build With Strength coalition.
The Build With Strength coalition assisted federal lawmakers on the National Mitigation Investment Act, which addresses FEMA and National Institute of Building Sciences points, along with a growing taxpayer burden: The federal government's shouldering of a disproportionate share of natural disaster costs, presently about 75 percent versus barely 5 percent in 1955.
There is no scientific model in use to calculate water mitigation costs, as there is for wind storm damage estimates.
Many in the insurance industry view the Assignment of Benefits (AOB) as the primary culprit in the escalation of water mitigation fraud.
Identify suspect water mitigation claims early and develop an efficient internal structure to collect and distribute information.
Mitigation bankers do a lot of homework prior to establishing a bank.
Mitigation banks are based on the principle that if there is an impact to natural habitat such as a stream or wetland, that impact must be mitigated by creating compensatory habitat, generally close by.
Sub-Saharan Africa received almost equal amounts of adaptation and mitigation finance (15% of total funds, representing 31% of total adaptation finance and 8% of total mitigation finance).
Renewable energy took by far the largest share of mitigation finance, with 36%.
The interviews with contemporary mitigation specialists that form
conduct a thorough mitigation investigation is more likely to receive a