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Damages

A monetary amount claimed and awarded to a person for loss or injury to the person or the person´s property. Various types of damages may sought depending on the circumstances of the injury or loss, including:

  • Actual: compensation for amounts in fact incurred.
  • Expectation: compensation for amounts that a person could have reasonably anticipated receiving from a transaction had it not failed.
  • Incidental: expenses reasonably incurred by mitigating, or otherwise in association with losses.
  • Liquidated: an amount fixed by contract as reasonable compensation in the event a party defaults.

See liquidated damages.

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