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TYPES OF MONETARY DAMAGES

TYPES OF MONETARY DAMAGES 2025

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The document outlines the types of monetary damages available in breach of contract actions, including compensatory, consequential, punitive, and nominal damages. It explains how compensatory damages are calculated and discusses the concepts of mitigation, liquidated damages, and penalties. Additionally, it covers equitable remedies such as rescission, restitution, specific performance, and reformation. The document also introduces quasi-contracts to prevent unjust enrichment and highlights contract doctrines related to remedies.

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What are the three types of damage?

Personal injury cases can involve three types of damages: economic, non-economic, and punitive damages. Economic and non-economic damages are the most common awards. Together, they are called compensatory damages. Courts award punitive damages (also called exemplary damages) more rarely.

What are types of damages?

Although they are difficult to quantify, the purpose of general damages is to compensate someone for a loss. Punitive (or exemplary) damages are different in that their purpose is not to compensate but to punish someone for bad behavior.

What are the three types of monetary damages?

Civil damages refers to how much money you may get in a settlement or court award (Kenton, 2020). There are three types of damage that form the foundation of most civil lawsuits: compensatory, nominal, and punitive. An attorney can estimate how much your claim may be worth based on your damages.

What are the four 4 broad categories of damages?

four broad categories of damages: Compensatory (to cover direct losses and costs). Consequential (to cover indirect and foreseeable losses). Punitive (to punish and deter wrongdoing). Nominal (to recognize wrongdoing when no monetary loss is shown).

What are the three types of damages?

What Are the 3 Types of Damages? There are three types of damages in personal injury claims: non-economic damages, economic damages, and punitive damages. Personal injury cases based on negligence may award compensation for economic and non-economic losses, but punitive damages are only available in certain situations.

What are three 3 types of damages award in a tort case?

Monetary damages are a form of judicial remedy that can be awarded to a claimant in compensation for an injury or loss wrong- fully inflicted. 1 This form of remedy is most commonly referred to simply as damages. The essence of damages is the payment of money as a release from civil liability.

What are monetary damages?

There are three basic types of compensatory damages: special compensatory damages, general compensatory damages, and wrongful death damages.

What are the four main types of damages?

Today, were looking into four types of damages you may be able to receive in a bdocHub of contract case. Compensatory damages. Punitive damages. Nominal damages. Liquidated damages.

TYPES OF MONETARY DAMAGES 2025

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