wear and tear(redirected from Wear & tear)
Also found in: Dictionary, Thesaurus, Acronyms.
Normal Wear and Tear
Deterioration to property one would expect from reasonable, light use. For example, small scratches or chips in the paint of a wall that occur over the course of a year or two may be considered normal wear and tear. A large hole in the wall resulting from a wild party generally would not. A tenant ordinarily does not compensate a landlord when the landlord repairs normal wear and tear.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
wear and tearthe gradual deterioration in the efficiency (and value) of a productive ASSET through constant use. See DEPRECIATION 2, CAPITAL CONSUMPTION.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
wear and tear
Physical deterioration of property as a result of normal usage and aging.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.