What is the difference between compensatory and monetary damages?

Compensatory and monetary damages are forms of compensation for people injured in accidents in Tennessee. Compensatory damages are awarded to an injured person to make up for the physical, emotional, mental, and financial losses they have suffered because of the accident. These damages include covering medical expenses, pain and suffering, lost wages, and loss of companionship. Monetary damages are awarded to the injured party when the accident caused by another person is found to be intentional, gross negligence, or reckless. These damages are meant to punish the person responsible for the accident and compensate the injured party for any additional losses they have suffered because of the accident. The most common types of monetary damages include special damages, which cover out-of-pocket expenses, and punitive damages, which are meant to deter the liable party from committing similar acts in the future. In Tennessee, courts will award both compensatory and monetary damages for accidents that are a result of someone else’s negligence. The amount of compensation will vary depending on the circumstances of the accident. For example, if the accident was caused by a drunk driver, the injured person may receive a larger award to compensate for their losses. In some cases, the court may award both compensatory and monetary damages to cover both the physical and emotional losses suffered by the injured person.

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What is the difference between compensatory and monetary damages?

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