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Today's Terms
Damages
Definition:
Monetary compensation or indemnity for wrong or injury caused by the Violation of a legal right. 1. Compensatory damages - Reimbursement for actual loss or injury. 2. Exemplary damages - Monetary award by way of punishment for injury caused by aggravated circumstances or malice, in addition to compensation for the injury. 3. Punitive damages - Monetary compensation awarded in excess of ordinary damages, as punishment for a gross wrong.
Negligence
Definition:
Conduct which falls below the standard established by law for the protection of others against unreasonable risk of harm.
Class action
Definition:
When different persons combine their lawsuits because the facts and the defendant are so similar. This is designed to save Court time and to allow one judge to hear all the cases at the same time and to make one decision binding on all parties. Class action lawsuits would typically occur after a plane or train accident where all the victims would sue the transport company together in a class action suit. Recent class actions have occurred against tobacco companies.
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