What are Economic Damages?
Economic Damages is a term that encompasses any kind of financial loss that an injury victim has incurred due to an accident. They are damages that can hypothetically be measured at an exact dollar amount. Because of this, they are more objectively-measured than non-economic damages. They can include medical expenses, loss of income, and funeral expenses among other monetary costs. Economic damages are also known as pecuniary damages.
Quantifying the level of economic damages incurred after an accident impacts the damages that may be received by a plaintiff in a lawsuit. A plaintiff being able to recover from financial losses and become whole again following a defendant’s negligence is considered a function of the justice system. Because economic damages need to be objectively measured, much evidence needs to be provided for accuracy.
According to the American Bar Association (ABA), many states follow the Economic Loss Doctrine, which holds victims from recovery when “the negligence of others results in purely economic loss.” That is to say that in many cases, something like injury or distress needs to be proven in order for a victim to recover damages. In concept, this is to prevent plaintiffs from seeking recovery that is greater than necessary.
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Homeless Man Awarded $41,000 for Fraternity Shooting Incident
A homeless man who was shot with a .22 caliber rifle by an Oregon State University fraternity member has been awarded over $6,000 for medical expenses and $35,000 in non-economic damages, totaling over $40,000.
The jury found both the Association of Alpha Beta Chapter of Alpha Gamma Rho (AGR) and a former member responsible for the 2006 shooting, according to news reports. The national organization was not held responsible.
Witnesses testified that the fraternity members were known to shoot BB guns from the fraternity building windows and had talked about shooting homeless people with BB guns, news reports stated. After a search of the fraternity house, police found more than 24 firearms. The guns are allowed according to the AGR guidelines as long as they are securely locked.
The individual found liable in the case testified he was aiming at a dumpster and not the homeless man. […]
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$4.4 Million Awarded to Family In Automobile Wrongful Death Case
Department of transportation and subcontractor negligent for car accident
A Utah 4th District Court jury has awarded the family of a man killed in a traffic accident in 2006 almost $4.4 million, reports The Salt Lake Tribune.
Due to state law caps on damages against the state and the victim’s share of the responsibility, the award will be reduced by almost $2 million.
The family of the Payson man sued the state Department of Transportation and a subcontractor for failing to post appropriate signs warning of traffic delays as they were working on the reconstruction of a bridge. The man was killed as he came over the crest of a hill and tried to swerve to miss the driver ahead of him who slammed on his brakes to avoid hitting cars stopped because of the bridge project. He crashed his vehicle and died 13 days later. […]
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