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.
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.
Yes
Punitive Damages
Punitive damages are meant to punish the defendant for their actions, while compensatory damages are meant to compensate the plaintiff for their losses.
You theoretically can but you probably won't. Punitive damages are rare and require an extreme situation.
No, small claims court typically does not award punitive damages in legal cases.
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.
Punitive damages in legal cases are calculated based on factors such as the severity of the defendant's misconduct, the harm caused to the plaintiff, and the defendant's financial situation. The goal of punitive damages is to punish the defendant and deter similar behavior in the future.
The word punitive means serving to punish, so the opposite could be forgiving, or corrective.In civil suits, the opposite of punitive damages are "actual" damages or compensatory damages.
Depends on the State. Nebraska, for one, does not recognize punitive damages so you won't get them there. We live in such a litigious society. Punitive damages are supposed to be punishment for the offender but everyone thinks they are entitled to a piece of everybody else. Why would the sentence not be enough? If you are doing this to "get rich" - shame on you.
The best source of information would be your insurance agent. Not all policies are the same. But generally you can have coverage for punitive damages if you select the option when you purchased your policy. The cheaper the policy, typically the less the coverage.
Compensatory and Punitive