Damages: The indemnity recoverable by a person who has sustained an injury, either in his/her person, property, or relative rights, through the act or default of another.

 

Related Words

Damages: The indemnity recoverable by a person who has sustained an injury, either in his/her person, property, or relative rights, through the act or default of another.

Nominal Damages: Monetary damages of a token amount awarded for a wrongful act where no loss occurred.

Compensatory Damages: Monetary damages paid to compensate an injured party for a loss.

Actual Damages: Real, substantial and just damages, or the amount awarded to a complainant in compensation for his actual and real loss or injury.

Punitive Damages: Damages awarded to one party to punish another party for dishonest conduct. Meant to deter others from committing a similar offense.

Exemplary Damages: Monetary damages that go beyond the actual compensatory damages. They are awarded to punish a wrongdoer for fraudulent, malicious and wrongful conduct.

Liquidated Damages: A definite amount of damages, set forth in a contract, to be paid by the party breaching the contract. A pre-determined estimate of actual damages from a breach.

Suit For Specific Performance: If a seller breaches a real estate contract, the buyer may sue for specific performance. The buyer asks the court to force the seller to go through with the sale and convey the property as p . . . View Full Definition

Trade Fixture: An article of personal property annexed or affixed to leased premises by the tenant as a necessary part of the tenants trade or business. At the termination of a lease, a tenant must leave m . . . View Full Definition

Unamortized Bond Discount: A liability insurance policy that provides protection against damages not covered by standard liability policies, such as large jury awards in lawsuits.