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Financial compensation refers to the act of providing a person with money or other things of economic value in exchange for their goods, labor, or to provide for the costs of injuries that they have incurred. The aim of financial compensation is the preservation of relationships between those engaged in economic exchange.
At common law, damages are a remedy in the form of a monetary award to be paid to a claimant as compensation for loss or injury. [1] To warrant the award, the claimant must show that a breach of duty has caused foreseeable loss.
A legal remedy, also referred to as judicial relief or a judicial remedy, is the means with which a court of law, usually in the exercise of civil law jurisdiction, enforces a right, imposes a penalty, or makes another court order to impose its will in order to compensate for the harm of a wrongful act inflicted upon an individual.
The adequate remedy at law is the legal remedies by meaning it is satisfactory compensation by way of monetary damages without granting equitable remedies. [ 4 ] As an operation of law , an attorney often must present to the court whether there is an adequate remedy.
In contract, damages is a remedy to provide monetary compensation for loss; and damages may be unliquidated (general damages), or liquidated (pre-determined). In the absence of an out-of court settlement, unliquidated damages must be ascertained by a court or tribunal, whereas liquidated damages will be determined by reference to the contract ...
Weregild (also spelled wergild, wergeld (in archaic/historical usage of English), weregeld, etc.), also known as man price (blood money), was a precept in some historical legal codes whereby a monetary value was established for a person's life, to be paid as a fine or as compensatory damages to the person's family if that person was killed or ...
Areas covered by the Radiation Exposure Compensation Program. The United States Radiation Exposure Compensation Act (RECA) is a federal statute implemented in 1990, set to expire in July 2024, providing for the monetary compensation of people, including atomic veterans, who contracted cancer and a number of other specified diseases as a direct result of their exposure to atmospheric nuclear ...
A contribution claim is a claim brought by one or more defendants to a lawsuit for money damages brought by a plaintiff. [1] A contribution claim asserts the party (usually a defendant) is entitled to "contribution" from a third party for any money damages awarded to the plaintiff.