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In contracts "damages" are what you sustain from a breach of the agreement. Damages are also what third parties could claim for damages to their property or for personal injuries. Indemnities provide you with protection against third party claims for injuries or damages they sustained as a result or actions by one of the parties to the agreement.
Wiki User
∙ 12y ago
Wiki User
∙ 11y agoThere's no clear difference between the two terminologies as they are often used interchangeably. Every damage caused to some one or their property requires damages or compensation from the party that caused that damage.
Wiki User
∙ 9y agoThere is a pretty big difference between a loss and what is considered damaged. Something that is damaged can possibly be fixed, something that is lost cannot be salvaged.
Wiki User
∙ 13y agoDamage - is the breaking of or destruction of an item
Damages - is compensation recovered from damage.
Wiki User
∙ 12y agodamage is when you break something and sentence is when you are told to do something.
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What is the difference between general damages and special damages?
How are ordinary damages are different from special damages
What is the difference between punitive damages and restitution damamges?
Restitution is compensation for loss, damages or injury. The amount being equal to the loss, damage or injury. Punitive Damages go beyond compensation. They are "punishment" for the wrong doing. They are also used to deter the wrong doer from doing it again in the future. The amount is not limited.
Difference between damages and compensation?
According to my opinion, Compensation directly attach to the physical injury of the body like in a road accident. In contrast damages could be any other loss in shape of measure-able form or access able form.
What is the difference between discount and loss?
hi I'm Nivedita.the difference between discount and loss is discount is the reduced price whereas loss means the amount of money lost from the c.p.
What is the difference between Non Trucking Liability insurance and Bobtail Insurance?
your not covered for damages
Loss of profit is not an example of liquidated damages?
NO
Is Loss of profit is an example of liquidate damages?
No
Difference between Profit and loss account and Profit or loss account?
No difference. It is just a matter of symantics (different ways to say the same thing).
What is the difference between 'particular average loss' and 'general average loss'?
both have a slight tinge of "epic"
What word means monies paid in compensation for loss or injury?
The common term is "damages" or money damages".
What is the difference between a peril and a hazard?
Peril is cause of loss whereas hazard is condition which arises the chances of loss.
What is the difference between stop loss and non stop loss insurance claims?
When you have a stop loss you and you reach a claim over your amount. they will reduce your amount .
