What are economic damages?
An example of an AI chatbot conversation about economic damages in legal contexts.
Can you explain what economic damages are?
Economic damages refer to quantifiable financial losses resulting from an injury or wrongful act, such as lost wages or medical expenses.
How do economic damages differ from non-economic damages?
Economic damages are tangible and measurable, like medical bills, while non-economic damages cover intangible losses, like pain and suffering.
Can you give me examples of economic damages?
Sure! Examples include lost income, medical costs, property damage, and costs for future care related to an injury.
How are economic damages calculated in a lawsuit?
They are typically calculated by adding up all the financial losses incurred due to the injury, often supported by receipts and expert testimony.
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