pecuniary compensation

noun

Definitions of pecuniary compensation

  • money that is given for a loss or injury which has been suffered; damages

    "Nothing other than pecuniary compensation will be acceptable."

  • money that you are paid for doing a job or providing a service etc; wages; salary

    "In his inaugural address, Washington stated that he would "renounce pecuniary compensation" as president."

Phrase Bank for pecuniary compensation

  • In recent years, the availability of pecuniary compensation for failure to complete a contract for the sale of land has provoked considerable discussion.

  • Apart from the payment of pecuniary compensation, states are encouraged to consider, depending on the circumstances, taking other measures to mitigate the negative effects of the terrorist act suffered by the victims.

  • Normally, individuals sue only for pecuniary compensation.

  • Technology such as ours creates further opportunities for pecuniary compensation .

  • He received thanks but no pecuniary compensation for his services.

Additional Notes for pecuniary compensation

  • Article: Pecuniary compensation

    Pecuniary compensation is money that is given for a loss or injury that has been suffered. It is more commonly referred to as damages.

    Damages attempt to measure in financial terms the extent of harm a claimant has suffered because of a defendant’s actions. The purpose of damages is to restore an injured party to the position the party was in before being harmed.

    For example: In an employment law case, a claimant may seek economic damages for back pay (=wages lost between the time of a wrongful termination and the time of the verdict) and front pay (=wages that are likely to be lost in the future, as a result of the loss of the job and possibly the loss of a career path).

    When determining the damages award, the court will consider the claimant’s earning capacity before the defendant’s wrongful conduct, as well as what he would likely have earned had he not suffered the harm or injury.

    Where property is destroyed, for example as the result of harm to a physical structure, or due to a fire, damages may be assessed as the amount necessary to restore the property to the state it ws in before it was destroyed (or to replace it, if necessary). Depending on the circumstances, damages may instead be measured by the effect of the harm on the property’s market value.

    One difficult area is the awarding of damages for pain and suffering. There is no clear method of determining the value of pain, or the ability to lead a normal, pain-free life. This is an area where a lawyer’s skills can have a significant impact on the amount of a damages award. The manner in which the effect of an injury or disability is explained to a jury, and the manner in which damages are requested, can significantly raise or lower an award of damages.

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