Legal Definition
A legal term referring to a right asserted by one party against another, typically seeking redress for a loss or injury. In contract law, it defines the specific cause of action brought forward in a lawsuit.
Plain-English Translation
Imagine 'claim' is when someone says, 'Here is what happened, and here is what you owe us.' It's the formal way to say that someone has suffered a loss or injury and demands compensation or remedy from the other party.