When a defective product causes injury or damage, victims may be entitled to compensation for their losses. Assessing damages in products liability cases can be complex, as damages can include both economic and non-economic losses.
Economic Damages
Traditionally, economic damages refer to the tangible or direct financial losses that result from an injury or damage caused by a defective product. Examples of economic damages in products liability cases include:
Medical expenses: This includes hospital bills, medication costs, physical therapy, and any other medical expenses related to the injury or damage.[1]
Lost wages: If the victim is unable to work due to the injury or damage, they may be entitled to compensation for lost wages.[2]
Property damage: This includes the cost of repairing or replacing any damaged property, such as a car or other personal property.[3]
Other expenses: This can include expenses such as transportation costs, home healthcare, and any other expenses related to the injury or damage.
Non-Economic Damages
Non-economic damages refer to the intangible losses that result from an injury or damage caused by a defective product. Examples of non-economic damages in products liability cases include:
Pain and suffering: These include physical pain, emotional distress, and other subjective losses experienced by the victim.
Loss of enjoyment of life: If the injury or damage affects the victim's ability to enjoy life, they may be entitled to compensation for this loss.
Loss of consortium: If the injury or damage affects the victim's relationship with their spouse or partner, they may be entitled to compensation for this loss.
All other nonpecuniary losses other than exemplary damages.[4]
Calculating Damages
Calculating damages in products liability cases can be challenging, as each case is unique, and damages can vary depending on the circumstances. It's essential to work with an experienced attorney who can help you accurately assess the value of your claim and ensure that you receive fair compensation for your losses.
In calculating damages, it's important to consider both economic and non-economic losses. Economic losses can be calculated based on the actual expenses and losses incurred by the victim, while non-economic losses may require more subjective evaluation.
Conclusion
Assessing damages in products liability cases can be complex, as damages can include both economic and non-economic losses. If you have been injured or suffered damage as a result of a defective product, it's crucial to work with an experienced attorney who can help you accurately assess the value of your claim and ensure that you receive fair compensation for your losses. With careful evaluation of damages and strong legal representation, victims of products liability can receive the compensation they deserve.
This blog post is intended to be for educational purposes only and does not constitute legal advice. You should always consult with qualified legal counsel to determine applicable legal requirements in a specific factual situation, as every case is unique. This also does not constitute an attorney-client relationship.
[1] Golden Eagle Archery, Inc. v. Jackson, 116 S.W.3d 757, 763 (Tex. 2003)
[2] Id.
[3] See City of Tyler v. Likes, 962 S.W.2d 489, 497 (Tex. 1997).