mitigation of damages

Definition

The obligation of the injured party to take reasonable steps to reduce or eliminate the amount of damages that party may be entitled to. A tenant is obligated to attempt to stop the flow of water from a broken pipe, for example to mitigate the damage.

Use this term in a sentence

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
mitigate Mittelstand