Explain What Is Meant by Punitive Damages and When Such

question 12

Essay

Explain what is meant by punitive damages and when such remedies would be available in a tort action.

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Definitions:

Legal Rights

Refers to the entitlements granted by legal systems or societal norms to individuals or entities, encompassing freedoms, privileges, and protections under law.

Clearing

The process of reconciling purchases and sales of various options, futures, or securities, as well as the direct transfer of funds from one financial institution to another.

Refuse To Honor

The act of not accepting, acknowledging, or fulfilling an agreement, request, or instruction.

Enough Money

Implies having sufficient funds to meet needs, obligations, or desired goals without financial strain.