damages Money

   awarded by a court to a plaintiff for injury or loss caused by the defendant. Types of damages include the following: compensatory damages, intended to make good or replace the loss suffered; consequential damages, when there is a breach of contract by a seller and a buyer suffers losses from unfulfilled requirements that the seller knew of, or should have known of, when the contract was agreed to; general damages, a type of compensatory damages related to nonmonetary losses, covering pain and suffering, shortened life expectancy, loss of companionship, and loss of reputation (in libel and slander actions); incidental damages, when there is a breach of contract by a seller (e.g., the expenses incurred by the buyer to return the goods to the seller); nominal damages, an insignificant amount awarded when a defendant has violated the rights of the plaintiff but no monetary loss has been suffered or can be proved (also known as token damages); punitive damages, awarded in addition to compensatory damages to the victim of willful or malicious misconduct (also known as exemplary damages); special damages, awarded to cover the winning party's out-of-pocket costs (e.g., medical expenses, loss of wages, repair fees, car rental costs if a car has been damaged); statutory damages, required by statutory law; and treble damages, the actual damages determined by a judge or jury, multiplied by three to punish the wrongdoer and to serve as an example.

Business law dictionary. 2015.

Look at other dictionaries:

  • money damages — ➔ damage1 * * * money damages UK US noun [plural] (also monetary damages) ► LAW money ordered by a judge to be paid by a person or organization to someone who has been harmed or lost money as a result of their wrong actions: »The agency is… …   Financial and business terms

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  • damages — I noun amends, compensation, costs, expenses, expiation, fine, indemnification, indemnity, injury, just compensation, legal costs, legal liability, loss, penalty, recompense, recovery, reimbursement, remuneration for injury suffered, reparation,… …   Law dictionary

  • damages — [plural] ► LAW money that a person or organization is ordered by a court of law to pay to another person or organization because they are responsible for harming them in some way: »They want the rival company to withdraw the product and pay… …   Financial and business terms

  • money judgment — see judgment 1a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. money judgment n …   Law dictionary

  • damages — n. (Law) a sum of money paid in compensation for an injury or wrong. Syn: amends, indemnity, indemnification, restitution, redress. [WordNet 1.5] …   The Collaborative International Dictionary of English

  • Damages (Jewish law) — Part of a series on …   Wikipedia

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