A condition resulting from unforeseen changes in the art, which make the installation of new apparatus necessary. 43 Am J1st Pub Util § 145. The condition of a thing which has passed out of general use, is outmoded, and out of fashion. Re Stout, 151 Or 411, 50 P2d 768, 101 ALR 672. As a matter of deduction in computation of income for taxation, that which renders an asset economically useless, regardless of its physical condition, such as technological improvements, economic changes, and legislative or regulatory changes functional depreciation. Real Estate-Land Title & Trust Co. v United States, 309 US 13, 84 L Ed 542, 60 S Ct 371. Obsolescence is not necessarily confined to particular elements or parts of a plant the whole may become obsolete. It may arise as the result of laws regulating or forbidding the particular use of the property as well as from changes in the act, the shifting of business centers, loss of trade, inadequacy, or other causes. Burnet v Niagara Brewing Co. 282 US 648, 75 L Ed 594, 51 S Ct 262. See obsolete.

Ballentine's law dictionary. . 1998.

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  • obsolescence — ob‧so‧les‧cence [ˌɒbsəˈlesns ǁ ˌɑːb ] noun [uncountable] when a product, system etc is becoming no longer useful because something better is available, possible etc: • Now markets are subject to the faster obsolescence of products due to greater …   Financial and business terms

  • obsolescence — ob·so·les·cence /ˌäb sə les əns/ n: a loss in the utility or value of property that results over time from intrinsic limitations (as outmoded facilities) or external circumstances ◇ Obsolescence is usu. distinguished from depreciation and… …   Law dictionary

  • obsolescence — (n.) 1809; see OBSOLESCENT (Cf. obsolescent) + ENCE (Cf. ence). Phrase Planned obsolescence coined 1932, revived as a disparaging term 1950s …   Etymology dictionary

  • Obsolescence — Ob so*les cence, n. [See {Obsolescent}.] The state of becoming obsolete. [1913 Webster] …   The Collaborative International Dictionary of English

  • Obsolescence — Obsolete redirects here. For the album by Fear Factory, see Obsolete (album). Obsolescence is the state of being which occurs when an object, service or practice is no longer wanted even though it may still be in good working order. Obsolescence… …   Wikipedia

  • Obsolescence — Sur les autres projets Wikimedia : « Obsolescence », sur le Wiktionnaire (dictionnaire universel) L’obsolescence[1] est le fait pour un produit d’être dépassé, et donc de perdre une partie de sa valeur en raison de la seule… …   Wikipédia en Français

  • obsolescence — A fall in the value of an asset as a result of its age. For example, plant and equipment may not have actually worn out but may have become out of date because technology has advanced and more efficient plant has become available. It also applies …   Big dictionary of business and management

  • obsolescence — noun Date: circa 1828 the process of becoming obsolete or the condition of being nearly obsolete < the gradual obsolescence of machinery > < reduced to obsolescence > …   New Collegiate Dictionary

  • obsolescence — n. built in; planned obsolescence * * * [ˌɒbsə les(ə)ns] planned obsolescence built in …   Combinatory dictionary

  • obsolescence — ob|so|les|cence [ˌɔbsəˈlesəns US ˌa:b ] n [U] 1.) when something becomes old fashioned and no longer useful, because something newer and better has been invented 2.) planned/built in obsolescence when a product is designed so that it will soon… …   Dictionary of contemporary English

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