What are the different types of damages in law?
An example of an AI chatbot conversation about types of damages in legal contexts.
What are the different types of damages in law?
In law, damages refer to monetary compensation for loss or injury. The main types include compensatory, punitive, nominal, and liquidated damages.
Can you explain compensatory damages?
Compensatory damages are intended to compensate the injured party for actual losses, such as medical expenses, lost wages, and pain and suffering.
What about punitive damages?
Punitive damages are awarded to punish the wrongdoer and deter similar conduct in the future. They go beyond mere compensation.
Are there any other types of damages I should know about?
Yes, there are also nominal damages, which are small amounts awarded when a legal wrong occurred but no substantial loss was proven, and liquidated damages, which are pre-determined amounts specified in a contract.
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