Liquidated Damages
…Noun A monetary award to compensate a party to a contract, when the other party has breached that contract. What are Liquidated Damages Liquidated damages are damages that are included…
Read moreThe Law Dictionary for Everyone
…Noun A monetary award to compensate a party to a contract, when the other party has breached that contract. What are Liquidated Damages Liquidated damages are damages that are included…
Read more…See In re Exxon Valdez, 236 F. Supp. 2d 1043, 1063 (D. Alaska 2002). A punitive-to-compensatory ratio of 1:1 thus yields maximum punitive damages in that amount.” We therefore vacate…
Read more…Punitive Damages – awarded for the purpose of punishing the defendant for an egregious or intentional act. The concept behind punitive damages is to deter the defendant from engaging in…
Read more…rescission. Compensatory Damages Compensatory damages are monies that a court awards to an individual who suffers damages or injury as the result of another person’s wrongful actions. This applies whether…
Read more…lost wages, court costs, and losses. In gross negligence claims, a court can award punitive damages depending on the facts of the case. Punitive damages are designed to prevent the…
Read more…award of monetary damages, though it is possible for the court to award punitive damages. Punitive damages are ordered, not in compensation for the plaintiff’s loss, but to punish the…
Read more…a crime or offense. Punitive Damages – Money awarded to the injured party above and beyond their actual damages, to punish the wrongdoer for outrageous misconduct in a civil matter….
Read more…damage to his reputation, and pain and suffering. Depending on the circumstances, the court may even order the defendant to pay punitive damages. Example of Damages for Malicious Prosecution When…
Read moreThe term “treble damages” is used to describe the court’s ability to award three times the damages in certain cases. For example, treble damages are triple the damages that a…
Read more…damage to property, or other loss. The two main types of damages awarded in a lawsuit include actual damages and punitive damages. Actual damages, also referred to as “compensatory damages,”…
Read more