8.71 Nominal Damages is a type of monetary compensation awarded to a party who has suffered some kind of harm or loss, but has not suffered any actual or measurable monetary loss. This kind of monetary award is usually awarded when there is no specific amount of harm that can be determined or when the harm that was suffered did not result in any measurable financial loss. Examples of 8.71 Nominal Damages may include cases of slander or defamation, breach of contract, or wrongful termination. There are two types of 8.71 Nominal Damages: Compensatory Damages and Punitive Damages. Compensatory Damages are awarded to compensate a party for the actual harm that they suffered, while Punitive Damages are meant to punish a party for their actions and serve as a deterrent to similar actions in the future.
8.71 NOMINAL DAMAGES
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A small amount of money awarded to the plaintiff in a civil lawsuit when a judge or jury finds that the plaintiff has suffered a legal wrong, but no compensatory damages. A dollar is a common amount for a nominal damages award.
A trivial sum of money awarded to a plaintiff whose legal right has been technically violated but who has not established that they are entitled to compensatory damages because there was no accompanying loss or harm.
Nominal damages in Contract Law are awarded if one party breaches a term of the agreement. However, damages will be calculated based on the innocent party's actual loss. Since contractual damages are therefore not punitive, it follows that an innocent party who has suffered no loss cannot recover much compensation.
A nominal damages claim differs from a ?small claim? in the sense that a nominal damages award is not a lawsuit seeking a monetary sum of $1. A nominal-damages lawsuit seeks an affirmation of the plaintiff's rights, and the mark of that affirmation is the dollar.
Nominal Damages: Nominal damages, as mentioned above, are typically a trivial sum. In most cases, all the award of nominal damages does is to say, ?The claimant was right, but they suffered no real harm.? A typical example of nominal damages is $1.00.
A trivial sum of money awarded to a plaintiff whose legal right has been technically violated but who has not established that they are entitled to compensatory damages because there was no accompanying loss or harm.
What is an example of nominal damages? An example of nominal damages is a situation where a defendant breached a contract and failed to fulfill the terms of the agreement, but the plaintiff wasn't harmed by this failure.