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Posted on November 29, 2008 by Wally Singer | Posted under Legal
The Difference Between Punitive Damages and Compensatory Damages
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Compensatory Damages Compensatory damages are damages awarded to a plaintiff in order to compensate for some sort of loss. Some examples of losses that compensatory damages can cover include medical bills, lost wages, loss of future income, and funerary costs. Pain and suffering also falls under this category and refers to non-monetary losses sustained by the plaintiff. Pain and suffering may refer to mental or physical impairment, emotional problems, loss of a loved one, and even harm to one's reputation. For example, if someone were harmed by a defective product that caused a lengthy hospital stay and a considerable absence from his or her line of work, that person may seek compensatory damages to cover medical bills and lost wages from being away from work. If the harm also led to physical disability, the defendant may also seek compensation for being unable to continue in his or her line of work. Punitive Damages Punitive damages are levied in order to punish the defendant for wronging the plaintiff. Unlike compensatory damages, punitive damages are not meant to award the plaintiff per se but rather to deter or prevent the defendant from committing a similar action in the future. The amount of punitive damages will vary from case to case and may even vary from state to state, as different parts of the country have different ways of determining the amount of punitive damages that may be pursued. For example, if the unsafe policies of a toy factory contributed to poor or harmful manufacturing of one of their products, the company may have punitive damages levied against them in order to punish them for unsafe practices and cause them to reform their policies. It should be noted that seeking out one group of damages over the other does not preclude someone from seeking both compensatory damages and punitive damages. In some cases, it may be fitting for both to be pursued. If you or someone you know and love has been injured by another party or if you have lost a loved one due to said negligence, it is of the utmost importance to discuss your case with a skilled lawyer. An attorney can help determine the eligibility of your case and help you recover compensatory and/or levy punitive damages against the responsible party. About The Author: Accident and injury laws can be hard to understand without the assistance of a skilled legal representative. Car and trucking accident attorneys and personal injury lawyers in New York City can help you get the compensation you deserve. |
Tags: PUNITIVE DAMAGES, COMPENSATORY DAMAGES, PERSONAL INJURY, LAWYER, ATTORNEY, MEDICAL BILLS, PAIN AND SUFFERING, DEFECTIVE PRODUCT, LOST WAGES, FUNERARY
