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date: 21 October 2019


A Dictionary of Business and Management

Jonathan Law

Compensation, in monetary form, for a loss or injury, breach of contract, tort, or infringement of a right. Damages refers to the compensation awarded, as opposed to damage, which refers to the actual injury or loss suffered. The legal principle is that the award of damages is an attempt, as far as money can, to restore injured parties to the position they were in before the event in question took place; i.e. the object is to provide restitution rather than profit. ... ...

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