Which damages are intended to compensate for intangible losses such as pain and suffering?

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $24.99Unlock all

Get ready for your CISR Commercial Casualty I Exam. Study with multiple choice questions, gain insights with explanations and hints. Enhance your understanding and increase your chances of success!

Multiple Choice

Which damages are intended to compensate for intangible losses such as pain and suffering?

Explanation:
General damages compensate for non-economic harms like pain and suffering, mental anguish, and loss of enjoyment of life. These losses are intangible and not easily priced, so they’re separated from out-of-pocket costs. Special damages cover concrete, economic costs such as medical expenses and lost wages. Punitive damages are about punishment for especially wrongful conduct, not about compensating for harm suffered. Consequential damages are damages that arise as a result of a breach and are typically economic in nature, like lost profits. So, for intangible harms such as pain and suffering, the appropriate category is general damages.

General damages compensate for non-economic harms like pain and suffering, mental anguish, and loss of enjoyment of life. These losses are intangible and not easily priced, so they’re separated from out-of-pocket costs. Special damages cover concrete, economic costs such as medical expenses and lost wages. Punitive damages are about punishment for especially wrongful conduct, not about compensating for harm suffered. Consequential damages are damages that arise as a result of a breach and are typically economic in nature, like lost profits. So, for intangible harms such as pain and suffering, the appropriate category is general damages.

More Multiple Choice Questions
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy