What is the difference between compensatory and monetary damages?

Compensatory damages and monetary damages are two types of compensation that are associated with accident law in California. Compensatory damages are designed to compensate a person for the losses they suffered in an accident, such as medical bills, lost wages, pain and suffering, and emotional distress. Monetary damages are more specifically focused on recovering money that was lost due to the negligence of another party. These damages may include lost wages, medical expenses, and property damage. Compensatory damages are created to make the injured party as close to whole as possible. This means that money is awarded to make up for emotional, physical, or financial losses. Monetary damages seek to return any money lost when the injury occurred. This could include medical bills, lost wages, or even lost future earnings due to the injury preventing the injured party from working. Compensatory and monetary damages can often be awarded together in some cases. They are both considered to be forms of legal compensation. In many cases, injured parties may receive both compensatory and monetary damages. The goal of both types of damages is to make the injured party whole again and to provide compensation for the losses that were suffered as a result of the accident.

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