What are compensatory damages quizlet?
Asked by: Ms. Janet Beatty II | Last update: February 19, 2022Score: 4.5/5 (6 votes)
Compensatory damages are paid to compensate the plaintiff for loss, injury or harm suffered. Compensatory damages in tort are referred to as reliance damages. Compensatory damages in contract are referred to as expectation damages.
What is an example of a compensatory damage?
For example, if the plaintiff was badly frightened and suffered nightmares, increased blood pressure, or other anxiety related symptoms which prevented him from working or fully enjoying his life, he could seek damages for "emotional distress." If any of his property was damaged, compensatory damages could also include ...
What is meant by compensatory damages?
Damages: An Overview
Compensatory damages, like the name suggests, are intended to compensate the injured party for loss or injury. Punitive damages are awarded to punish a wrongdoer.
What are the two types of compensatory damages in insurance quizlet?
The two types of compensatory damages that can arise out of an injury are special damages and general damages. Special damages are awarded to an injured party for tangible losses.
What are compensatory damages in civil law?
Compensatory damages, as the name indicates, are intended to compensate a claimant for losses suffered as a result of the other party's (wrongful) conduct. Those losses can be pecuniary (e.g., costs, loss of profit, related expenses) or non-pecuniary (e.g., for pain and suffering, loss of reputation).
Compensatory Damages
What are compensatory damages in real estate?
Award, usually money, intended to compensate the plaintiff for harm. caused by the defendant's act or failure to act. Also called: Actual Damages.
What are compensatory and punitive damages?
Compensatory damages are given to the injured victim to help pay for medical expenses and other damages created, while punitive damages are meant to penalize the at-fault party.
What is the purpose of compensatory damages in contract quizlet?
The purpose of compensatory damages is: to provide the nonbreaching party with sufficient money to pay for any damages that were actually sustained.
What are damages quizlet?
STUDY. damages. an award, typically of money, to be paid to a person as compensation for loss or injury.
What are consequential damages quizlet?
Consequential damages include lost profits and property damage resulting from defective performance.
How are compensatory damages calculated?
Add up the total replacement cost for your items. Add the other costs and fees that you have incurred in prosecuting the lawsuit, including your attorney fees, postage and filing fees. You can also include other losses for which you are entitled to compensation, such as loss of work or loss of lifestyle.
What is the difference between compensatory damages and consequential damages?
Compensatory damages, as the name implies, are intended to compensate a claimant for the actual loss, injury, or harm sustained. ... The term “consequential damages” is meant to indicate that the damages sought are merely an indirect “consequence” of the defendant's conduct.
What are the types of damages?
- General and Special Damages.
- Substantial Damages.
- Aggravated and Exemplary Damages.
- Liquidated and Unliquidated Damages.
- Consequential Damage and Incidental Loss.
How much is compensatory damages?
In a California medical malpractice case, there is a cap of $250,000 on pain and suffering and other non-economic damages. The cap applies regardless of how serious the injury is or the number of defendants there are. The California Supreme Court has upheld this cap as constitutional.
What are examples of general damages?
Examples of general damages include pain and suffering, mental anguish, and loss of consortium. General damages can also include future losses due to loss of earning capacity or future medical care.
What are nominal damages quizlet?
Nominal damages are a symbolic award (often $1 or $2) given to the P when liability for a tort is established but no actual harm occurred or is proven with sufficient certainty.
What is the commonality of compensatory punitive and nominal damages?
The law recognizes three major categories of damages: COMPENSATORY DAMAGES, which are intended to restore what a plaintiff has lost as a result of a defendant's wrongful conduct; nominal damages, which consist of a small sum awarded to a plaintiff who has suffered no substantial loss or injury but has nevertheless ...
What are punitive damages quizlet?
What are punitive damages? Damages awarded that are intended to punish the defendant for conduct that is extreme and outrageous.
What is the general goal of awarding compensatory damages in a breach of contract situation quizlet?
The primary goal of compensatory damages is to compensate a nonbreaching party for the loss of the bargain. Substantial performance constitutes a minor breach of the contract. Specific performance is usually available for the buyer in contracts for the sale of land.
What are liquidated damages business law quizlet?
Liquidated damages is the sum a party to a contract agrees to pay if he breaks some promise, and which, having been arrived at by a good faith effort to estimate in advance the actual damages that will probably ensue from the breach, is legally recoverable as agreed damages if the breach occurs.
What type of damages are not generally available for breach of contract quizlet?
Terms in this set (73) Punitive damages are generally not available in contracts cases.
What is the difference between compensatory and punitive damages quizlet?
What is the difference between compensatory and punitive damages? Compensatory damages are intended to compensate the injured for the loss. When a tort is intentional, punitive damages may also be awarded to punish the person who committed the tort.
Is a tort and a compensatory damage the same thing?
Damages in tort are generally awarded to restore the plaintiff to the position he or she was in had the tort not occurred. In law, damages are an award, typically of money, to be paid to a person as compensation for loss or injury. Damages are classified as compensatory (or actual) damages and punitive damages.
Which of the following is the general goal of compensatory damages?
The goal of compensatory damages is to “make the plaintiff whole.” In other words, an attempt is made to put the person injured in the same position they would have been in without the injury ever occurring. This is generally referred to as the “made whole” rule.