Definition, Meaning & Synonyms

monetary damage

noun

ˈmɒnɪtəri ˈdæmɪdʒ

Definition

Monetary damage refers to a financial compensation awarded to a party in a legal dispute as a remedy for loss or injury.

Examples

After the accident, the court awarded her monetary damages for her medical expenses.
The company sought monetary damages from the supplier for the loss of revenue caused by the delay.
In the lawsuit, the plaintiff was awarded significant monetary damages for the breach of contract.

Meaning

It represents the amount of money that one party must pay another as a result of wrongful acts or breach of contract, intended to restore the injured party to their financial position prior to the harm.