If the Jury Grants an Award That Is Exceedingly High

question 33

Multiple Choice

If the jury grants an award that is exceedingly high or low, the trial court can award

• A) additur.
• B) remittitur.
• C) either additur or remittitur.
• D) only the amount decided upon by the jury.

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Definitions:

At-risk Amount

The maximum amount of money an investor could lose in an investment, often used in the context of limiting losses in tax sheltered investments.

Passive Activity

Economic activities in which the taxpayer does not materially participate, often associated with rental properties or certain business investments.

Ordinary Loss

A loss incurred in the normal operation of a business, which can be used to reduce other taxable income on an owner's tax return.

Itemized Deductions

Expenses that taxpayers can subtract from their taxable income, detailed on Schedule A of the tax return.