Explain the difference between nominal, compensatory, and pencitory damages
What will be an ideal response?
The difference between nominal, compensatory, and pencitory damages are the following:
a) Courts award nominal damages in order to recognize that a breach of contract has occurred but no harm was caused by the breach of contract. The nominal damages would be a small sum that demonstrates that a party has breached the contract.
b) Compensatory damages are used to provide compensation to the party that was materially harmed by the other party breaching the contract. They are not used as punishment but to compensate the harmed party for any losses they have incurred or gains prevented resulting from a breach of contract.
c) Pencitory damages attempt to return the person that was materially harmed by the breach of contract back to the position they were in before the contract started and if this is not possible they provide monetary compensation to the plaintiff.
You might also like to view...
The primary reference for mobile crane lift-planning policies and standards for use in the United States is _____.
a. OSHA Standard 29 CFR 1926 Subpart CC b. ASME B30.5-2014 c. ASME B30.3-2014 d. ASME P30.1
Explain the concept of buckling. Explain whether buckling would occur if a member is subjected to bending. What measures do we adopt to prevent the buckling failure of building components?
What will be an ideal response?
What role does the consumer play in helping build a sustainable food system?
What would be an ideal response?
Carry the answer to two decimal places. Find the total weight of a 52-gallon steel drum and its contents if it contains 52 gallons of varnish weighing 8.16 pounds per gallon. The drum alone weighs 37.5 pounds.
Fill in the blank(s) with the appropriate word(s).