What are the two types of compensatory damages?
Special and general
The two types of compensatory damages are:
1. Special Damages: Special damages, also known as economic damages, refer to the amount of money a plaintiff has lost as a direct result of the defendant’s actions. These damages are quantifiable and can be calculated precisely. Examples of special damages include medical expenses, lost wages, property damage, and other out-of-pocket expenses.
2. General Damages: General damages, also known as non-economic damages, refer to the amount of money a plaintiff has lost that cannot be easily quantified. These damages include pain and suffering, emotional distress, loss of consortium, and loss of enjoyment of life. Unlike special damages, general damages are subjective and may be difficult to calculate precisely.
More Answers:
Calculate Your Insurance Claim Recovery Amount with this Simple Formula – ExplainedProtect Your Business with Business Interruption Insurance – Coverage for Income Loss Due to Disasters and Interruptions.
Understanding Policy Limits: What You Need to Know Before Buying Insurance