
As personal injury attorneys, we protect the rights of injury victims and their families, while securing the justice they deserve. Our series “Legal Terms You Should Know” serves to inform readers of the legal tools at their disposal in pursuit of justice.
What are damages?
Damages are the term for monetary compensation awarded to plaintiffs in the court of law. This compensation is awarded as a result of harm or loss brought about by the defendant’s actions or negligence. Damages are designed to restore financial value to the injured party to the fullest extent possible.
If you believe you have suffered harm or incurred loss at the hands of a company, medical provider, or other institution, consider the options for compensation available to you.
Are there other types of damages?
Economic damages are tangible and most easily quantified. These are typically issued for past and future medical bills, lost wages/future earning ability, and property damage incurred.
Of course, injured parties commonly suffer intangible losses, which are more difficult to quantify. This category, called non-economic damages, includes examples like pain and suffering, emotional distress, and loss of life enjoyment.
Punitive damages are awarded as a means of punishing defendants for especially malicious or egregious activity. The goal of punitive damages is to deter parties from committing harmful conduct in the future, as opposed to simply compensating plaintiffs for their injury.
Sometimes plaintiffs experience a violation of their rights, even if a court deems that no significant harm took place. In this instance, they may be awarded nominal damages.
While damages can vary greatly in value based on the harm suffered by the defendant, there are specific damages for which the amount awarded is established by law. These are known as statutory damages and are typically awarded in cases that involve statutory violations. Courts have historically applied statutory damages for cases in which it is difficult to accurately estimate the cost of harm incurred.
Why are damages capped?
In many jurisdictions, there are built-in caps on certain forms of damages, especially the damages that are harder to quantify, like non-economic and punitive damages.
Caps are theoretically meant to discourage juries from awarding damages in excess of what may be expected for the harm incurred. With an established limit on the value of damages, there is greater predictability infused in the legal system.
Our experienced legal team can guide you through the range of damage caps in nearby jurisdictions, ensuring that your case is brought forth strategically, with your economic interests in mind.
How might I recover damages?
Plaintiffs bear the burden of proof when pursuing damages in court. Because of this responsibility, it is important to document each step of your harm. Medical records, bills, and other evidence of lost income are valuable when building a case for damages. At each step, there must be a two-way stream of honest and transparent communication, enabling plaintiffs and attorneys to build a strong case on the facts.
A team of attorneys will guide you through that process, and help secure the information you need to bring a compelling case. From key deadlines to expert and witness expectations, a comprehensive timeline will help keep the case on track.
What else do I need to know?
Be aware of the financial parameters that come into play once damages are received. Damages may be awarded as a lump sum payment, or over time in the form of a structured settlement.
If you are considering bringing your case to court, be sure to consult with legal counsel for guidance on the damages you may be entitled to, and how to best pursue action. Our team at Peter Angelos Law will guide you through each step of the process.
Contact Peter Angelos Law today for a free consultation.