What is LEAKAGE?

The waste or diminution of a liquid caused by its leaking from the cask, barrel, or other vessel in which it was placed. Also an allowance made to an importer of liquids, at the custom-house, in the collection of duties, for his loss sustained by the leaking of the liquid from its cask or vessel.

More On This Topic

Link to This Definition
Did you find this definition of LEAKAGE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary