What is another name for actual damages?

• COMPENSATORY. Compensatory damages are generally the most identifiable and concrete type of damages. ...
• GENERAL. General damages are sought in conjunction with compensatory damages. ...
• PUNITIVE. Punitive damages are meant to punish a Defendant for particularly egregious conduct.

What are actual damages in contract law?

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.

What are different types of damages?

There are six different types of damages: compensatory, incidental, consequential, nominal, liquidated, and (sometimes) punitive.

Are consequential damages the same as actual damages?

In general terms, direct damages immediately stem from the contractual breach, while consequential damages are still related to the breach but without a direct correlation. Consequential damages often entail a deeper knowledge of a contract and its terms.

What are the four types of damages?

What are the two types of damages?

Generally, there are two types of damages: compensatory and punitive. (The term "damages" typically includes both categories, but the term, "actual damages" is synonymous with compensatory damages, and excludes punitive damages.)

What does statutory damages mean in law?

Statutory damages are a type of damages awarded in a successful claim to compensate for an injury or loss, whose amount is pre-established by statute. Statutory damages are commonly used in areas of the law in which it might be complex to establish the degree of harm or loss caused to the plaintiff.

What is it called when you sue for damages?

Civil damages are owed to a winning plaintiff by the losing defendant in a civil case tried in a court of law. Civil damages can be compensatory, general, punitive, or any combination of these.

What is an example of general damages?

Examples of general damages include: physical pain and suffering (compensation for being in pain); physical injury or impairment (disfigurement or disability); mental pain and anguish (trauma, stress and anxiety); diminished quality of life (relying on others, lack of mobility, etc.); loss of companionship and support ...

What do actual damages include?

Actual damages refer to the financial amount that is paid to a victim that suffered loss that can be calculated. Actual damages are often known as real damages or, legally, as compensatory damages. These are damages that arose from the neglect or mistake of another party.

What is the difference between actual and punitive damages?

punitive damages are the two main types of damages awarded in civil court cases. While courts grant actual damages to plaintiffs to compensate them for a loss they have suffered, they impose punitive damages on a defendant to discourage the behavior that led to the defendant being sued in the first place.

What is the difference between punitive and compensatory damages?

Compensatory And Punitive Damages

The compensatory damages awarded to plaintiffs are designed to give justice to them after being wronged. Punitive damages are designed to prevent others from being hurt by the same or similar actions.

What is a nominal damage?

A trivial sum of money awarded to a plaintiff whose legal right has been technically violated but who has not established that they are entitled to compensatory damages because there was no accompanying loss or harm.

What do punitive damages mean?

Punitive damages are awarded in addition to actual damages in certain circumstances. Punitive damages are considered punishment and are typically awarded at the court's discretion when the defendant's behavior is found to be especially harmful.

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.

Are indirect and consequential damages the same?

Consequential damages are damages that proximately result from a breach of a contract. Consequential damages are also commonly referred to as “indirect damages” because they arise indirectly from a breach due to various events that flow from a breach.

What is consequential vs direct damages?

Direct damages are damages resulting directly from a breach of the contract whereas consequential damages are damages that are not directly caused by the breach but normally and naturally arise from the circumstances of the non-breaching party.

Are general and compensatory damages the same?

Compensatory damages are further categorized into special damages, which are economic losses such as loss of earnings, property damage and medical expenses, and general damages, which are non-economic damages such as pain and suffering and emotional distress.

What are prospective damages?

Prospective damages: Prospective damages are future damages that can to a moderately sufficient extent or degree be expected to occur. It is usually granted on the basis of the facts pleaded and proved by the plaintiff.

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.

How do liquidated damages differ from actual damages?

Definition. Liquidated Damages are a variety of actual damages. Most often, the term "liquidated damages" appears in a contract, and often is the title for a whole clause or section. Parties to a contract use liquidated damages where actual damages, though real, are difficult or impossible to prove.