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Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate compensatory damages. [ 1 ] In legal damages theories, diminution in value is often calculated for compensatory special damages when a loss is monetarily quantifiable, and for restitution or disgorgement ...
Damages for conversion of grains, corn and cotton are based on market value, plus any accrual or interest gained. There are certain cases which require special calculation of damages. Commodities. Stock certificates or bonds which have increased in value after conversion. Recovery is permitted for the increased value.
Consequential damages go beyond the contract itself and into the actions that arise from the failure to fulfill. The type of claim giving rise to the damages, such as whether it is a breach of contract action or tort claim, can affect the rules or calculations associated with a given type of damages. [3]
Other than pecuniary damages, which is the most common type of damages recovered, there are a few other recognizable types of damages under English law, and still others that have their validity subject to ongoing debate: Injured feelings and disappointment; Injured reputation; Speculative damages; Liquidated damages and penalty; Quantum meruit [4]
The bond may not be – and often is not – the exact value of the ruling. In some cases it is significantly larger since it is intended to cover interest or other costs which may arise on appeal. A supersedeas bond is often paid in full – and may be handled via insurance or underwriting in some cases.
Consequential damages are the special damage where the defendant causes to lose profit money indirectly. However, this is difficult to examined and trace the violation to the breaching party. [ 15 ] The most common cause for this damage is the breaching of a contract that leads to profit lost.
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A personal injury claim consists of two main sections: General damages and Special damages (see Damages), Gratuitous care is a head of claim that comes under Special damages. Special damages normally encompasses expenses that the injured party has paid for (for example taxi fares where he/she has not been able to drive to places as normal), or ...