Reparations
reconstruction Compensation
Compensation to be paid by Germany to France, Belgium, Britain and other states as a result of the First World War
In order to receive compensation for liquidated damages, a person would have to hire an attorney and go to court. If the damages or losses were proven, the person could be compensated for them.
Frederick Octavius Arnold has written: 'The law of damages and compensation' -- subject(s): Compensation (Law), Damages
monetary compensation
The compensation paid by a defeated nation for the damages it caused to other nations during a war is called "reparations." Reparations are intended to cover the costs of war-related destruction and may include monetary payments, transfer of property, or other forms of restitution. This practice has been seen in various historical contexts, such as in the Treaty of Versailles after World War I.
The common term is "damages" or money damages".
Damages
"General damages" is a legal term that refers to money being won as compensation for damages such as suffering, pain, or an inability to perform crucial activities.
The German government was made to pay reparations for damages caused the small country during the war. Reparations are, in general, payment or compensation for wrongdoing.
Yes, you can still sue a business that no longer exists for damages or compensation. However, it may be more challenging to collect any awarded funds if the business has ceased operations.
That would be the definition of 'war reparations'.