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  1. #1
    bjobjs is offline Junior Member
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    Jun 2002
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    monetary damages

    What is the name of your state? California

    What is Monetary Damages ? What does it consist of? How is a monetary amount established?
  2. #2
    racer72 is offline Senior Member
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    Jan 2001
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    14,104
    Someone runs over your fence. It costs you $200 to fix your fence. The person that ran over your fence owes you $200 in monetary damages.
  3. #3
    bjobjs is offline Junior Member
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    Jun 2002
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    monetary damages

    What if there is no materialistic item to put a monetary value on?
    How do you ascertain a value?
  4. #4
    I AM ALWAYS LIABLE is offline Senior Member
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    Los Angeles, California
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    38,165

    Re: monetary damages

    Originally posted by bjobjs
    What if there is no materialistic item to put a monetary value on?
    How do you ascertain a value?
    My response:

    There are, basically, two types of damages:

    -- "Economic damages" means tangible, objectively verifiable monetary losses; e.g., medical expenses, loss of earnings, loss of business or employment opportunities, burial costs, loss of use of money, costs of repair or replacement, etc. [Ca Civil 1431.2(b)(1)]

    -- "Noneconomic damages" means intangible, subjective nonmonetary losses; e.g., pain and suffering, emotional distress and mental suffering, loss of consortium, loss of society and comfort, injury to reputation and humiliation. [Ca Civil 1431.2(b)(2)]

    In regards to "Noneconomic damages" there are no formulae to come up with a figure. For example, years ago, we used to use "3 times medicals" as a rule of thumb. However, that "formula" has given way to using "factors". Illustrative of the use of "factors" is that a case has far more value if there are broken bones, than mere soft tissue injuries involved. There are many, many other "factors" involved in coming up with an estimate of the value of a claim.

    IAAL

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