Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
  • Black's Law Dictionary: 2nd Edition

    The effect, substance or result; the total or aggregate sum. Hilbum v. Railroad Co., 23 Mont 229, 58 Pac. 551; Connelly v. Telegraph Co., 100 Va. 51, 40 S. E. 618, 56 In R. A. 663, 93 Am. St Rep. 919.
    —Amount covered. In insurance. The amount that is insured, and for which underwriters are liable for loss under a policy of insurance.
    —Amount in controversy. The damages claimed or relief demanded; the amount claimed or sued for. Smith v. Giles, 65 Tex. 341; Barber v. Kennedy, 18 Minn. 216, (Gil. 196;) Railroad Co., v. Cunnigan, 95 Tex. 439, 67 S. W. 888
    —Amount of loss. In insurance. The dimiuution. destruction, or defeat of the value of, or of the charge upon, the insured subject to the assured, by the direct consequence of the operation of the risk insured against, according to its value in the policy, or in contribution for loss, so far as its value ls covered by the insurance.