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In legal terms what are exemplary damages?
Exemplary damages, also known as punitive damages, are additional compensation awarded to the plaintiff in a civil lawsuit to punish the defendant for egregious behavior and to deter future similar conduct. They are meant to go beyond simply compensating the plaintiff for losses suffered and to act as a form of punishment.
What has the author Lotte Meurkens written?
Lotte Meurkens has written: 'The power of punitive damages' -- subject(s): Exemplary damages, Congresses
What has the author Thomas F Lambert written?
Thomas F. Lambert has written: 'The case for punitive damages' -- subject(s): Exemplary damages
What has the author Robert E Goodfriend written?
Robert E. Goodfriend has written: 'Punitive damages' -- subject(s): Exemplary damages, Jury
In which instances might exemplary damages be awarded?
Exemplary Damages are often referred to as punitive damages in legal terms. Such damages are awarded to the Plaintiff when the Defendant has acted in a negligent manner. This can be physical bodily harm, mental harm and or property damage. A judge can award damages beyond the cost to replace the damaged item.
What is the purpose in awarding punitive damages?
Where as compensatory damages are intended to recompense the injured party for their losses, punitive damages are meant to punish those who they are applied against. Further, punitive damages are also known as exemplary damages. Aside from its intent to punish the defendant for his willful of malicious misconduct, this is also awarded to make an example of the defendant's wrong actions so as to discourage other persons or companies from committing the same offense.
Examples of punitive damages?
Punitive damages is also a type of Monetary remedy which is designed to punish the defendant for behavior that shocks the conscience of the finder of fact. Punitive damages are meant to serve as a deterrent. Unlike most compensatory damages for civil suits, the purpose of punitive damages is not to make the plaintiff whole, but to punish the defendant. Punitive damages are not awarded in every civil case and most states have strict rules and limitations on when punitive damages will be allowed.
Is punitive damage taxable in New York city?
Whether or not punitive damages are taxable in New York City depends on the type of punitive damages. A punitive damage lawyer would be able to give you the specifics on the tax laws and punitive damages awards.
Are punitive damages taxable?
Yes
What type of damages are rarely awarded in negligence cases?
Punitive Damages
Can you get punitive and compensatory damages awarded from a wrongful termination lawsuit?
You theoretically can but you probably won't. Punitive damages are rare and require an extreme situation.
What is Punitive damages and what is consequential damages?
punitive damages are costs awarded to a party to punish the offending party, usually meant to discourage certain behaviour. Consequential damages are damages that attempt to rectify a cost of an innocent party when a breach has occurred in contract.
