What is the difference between actual and potential damages?

Actual damages are those which have already been incurred due to a catastrophic injury, while potential damages are those that could be incurred in the future. In Indiana, actual damages may include medical expenses, lost wages, pain and suffering, and other financial losses. Potential damages, however, refer to losses that may not yet have been determined, but could occur as a result of the injury. These may include future medical costs, lost earning capacity, and other expenses. The court will consider both actual and potential damages when deciding a case. The main difference between actual and potential damages is that actual damages are based on losses that have already occurred, while potential damages are based on losses that could occur in the future. In Indiana, the court will most often award actual damages as a way to compensate the injured person for their suffering. On the other hand, potential damages are awarded to provide for future losses. As such, potential damages are not awarded in every case but may be awarded in cases with long-term injuries or those where the injured person is unlikely to fully recover. The court will take into account all factors when determining whether or not to award potential damages.

Related FAQs

What is the difference between actual and potential damages?

Related FAQs

Related Blog Posts