What area of civil law involves the awarding of economic damages to compensate for these types of harms quizlet?

What are compensatory damages quizlet?

compensatory damages. Money awarded to a plaintiff to compensate for damages, injury, or another incurred loss.

What are two types of compensatory damages?

There are two types of compensatory damages—general and actual. Actual damages are intended to provide funds to only replace what was lost. General compensatory damages awarded are more complex, as these compensatory damages do not represent a monetary expenditure.

Which of the following is meant to compensate a harmed person as a result of a tort?

Compensatory damages are trivial damages intended to recognize that a defendant committed a tort against the plaintiff. If a court awards $1 million to compensate an injured plaintiff for medical bills, loss of wages, and pain and suffering, this is an example of compensatory damages.

What may be awarded to the aggrieved party as restitution or to compensate him or her for expenses incurred as a result of a transaction where there is a breach of contract?

Monetary damages, also known as legal damages, is the amount of money awarded to the injured and prevailing party in a lawsuit. These damages are normally paid by the party who caused the injuries and can be imposed as a penalty, restitution, or both.

Which of the following types of damages is intended to reimburse a plaintiff for his or her losses?

Compensatory damages are damages intended to reimburse a plaintiff for her or his losses.

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 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. Distinguish between evidence and testimony.

What is the difference between nominal punitive and compensatory damages?

The main difference between these two types of damages is that they are directed toward different parties of a civil claim. Compensatory damages are awarded to benefit the plaintiff and to help him or her cover the costs of an accident and/or injury. Punitive damages are awarded to punish the defendant.

Is tort law civil law?

Civil Law Overview

Although tort law is considered part of “civil law,” many other areas of civil law exist as well. These include divorce and family law, contract disputes, wills and property disputes. Any dispute between private individuals, as stated above, typically fall under civil law jurisdiction.

What are damages in civil law?

Damages are the sums assessed in monetary terms that are paid to a successful plaintiff. Damages may be awarded as compensatory damages for damage sustained, or as aggravated or exemplary damages, although in State of NSW v Corby (2009) 76 NSWLR 439 aggravated damages were described as a form of compensatory damages.

What is liability in law of tort?

The general rule of tort liability is that the person who causes damage must pay compensation. In certain cases, however, liability can arise on third parties also. The law refers to this vicarious liability.

What is the general goal of awarding compensatory damages in a breach of contract situation?

Compensatory damages (also called “actual damages”) cover the loss the nonbreaching party incurred as a result of the breach of contract. The amount awarded is intended to make good or replace the loss caused by the breach.

How does the UCC calculate compensatory damages?

How does the UCC calculate compensatory damages for the sale of a good? How much Blair is going to have to pay to obtain the goods from another seller. The difference between the contract price and the price Blair paid for the item. The difference between the contract price and the market price.

Which the following is a measure of compensatory damages?

In most states, when a seller of real estate breaches a contract and sells the land to someone else, the measure of compensatory damages is: the difference between the market price and the contract price.

What is monetary compensation law?

Monetary compensation means regular straight-time earnings, payments for overtime, and sales commissions, all prior to deduction of taxes and other withholding charges, but excludes incentive compensation, bonuses and other special payments.

What is an example of compensatory damages?

A compensatory damages example is if a negligent driver hit your 2008 Honda and totaled it; the compensatory damages should equal the market value of your 2008 Honda at the time of its demise, less any scrap or salvage value, and you could be entitled to the fair market value of the vehicle.

What are the types of damages in tort law?

Unliquidated Damages under Tort means those damages which are not predetermined and are based upon the evaluation of loss the person has suffered. Unliquidated Damages are awarded in the case of Torts as both of the parties are unaware of the potential loss's compensatory equivalence.

What are compensatory damages also known as?

Compensatory damages are also referred to as “actual damages.” It means the objective dollar amount needed to compensate (hence, the name) a plaintiff for the monetary value of what they either lost or incurred because of the injury. Typical compensatory damages in an injury claim include: Medical bills.

What are the 3 types of compensatory damages?

What are the 3 types of damages?