Posts Tagged ‘ Compensatory damages ’

Legalese & Legal-speak: 10 for 2010

December 23rd, 2009. By Kristine B

With 2009 about to come to a close, it’s a good time to take a little breather and take a look at some of the words or phrases you often hear in relation to a lawsuit—but might not know what they mean. They tend to get glossed over as if everyone out there took Latin for 6 years and loves to speak in legalese. So as we get ready to kick off 2010, here’s 10 for ’10…ten common legal terms you oughta know for 2010 and beyond…in plain English…

Damages

Most of us are used to thinking of “damage” as what happens after a tornado (or a couple of five year olds on M&M’s) hits town. But the weird thing about “damages” from a legal perspective is that it’s the AWARD that comes after the mess—and the lawsuit. Damages simply refers to money awarded as compensation for a legal wrong. Damages are either compensatory or punitive. Say what? It’s like Pandora’s box…keep reading…

Compensatory Damages

Compensatory damages are awarded to compensate (so that’s where it comes from) the wronged party for money lost, expenses or pain and suffering due to a legal wrong committed by another party. Compensatory damages can include medical expenses, lost wages, loss of future earnings, property damage and pain and suffering. Compensatory = Compensation (well, Read the rest of this entry »

Tags: appeal, Compensatory damages, Damages, fiduciary, Fraud, jurisdiction, Negligence, Pleading Ignorance, Punitive damages, Statute of Limitations, tort
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