Do you know the most suitable way to end a dispute? Just pay for what you broke. Suppose you break your neighbor’s window while playing baseball with your kid. Now you can’t bring that old window back, but you can buy a new glass and repair it to avoid any trouble with the resident. Just like that you can pay damages and end a dispute of an accident or injury case.
In accident or injury case this payment is called a structure settlement. This is applicable for similar civil cases also. Statistics show that because of damage payments 70% cases get resolved before a trial. But can all damages be paid out? To know that you have to know about the types of damages:
- General Damages: These damages can be measured by the value of money. Like damage to property or vehicles. Suppose you broke someone’s car. The owner had to pay $500 for the repair. Now you can pay him that money and end the dispute.
- Special Damage: This can’t be measured in money. As an example if your actions cause someone an injury. But how do you pay for that then? Well in cases of special damages the damages are converted into value of money. As an example medical bills, wages he missed etc.
That’s not all about it. To understand the functions of damage payment you have to know about structured settlement as well.
Suppose a guy named Joe gets an accident attorney & charges a cleaning company. The company got charged because one of their workers caused him physical damage by which Joe cannot work anymore. Now instead of a lump sum of money as the damage charge the victim asks for a structured settlement. By that he can receive annuities instead of a lump sum for the rest of his life.
Another advantage of this is for the defendant. This settlement won’t be carried out by the defendant. Instead it will be carried out by his insurance company. The plaintiff can also sell the structured settlement for a lump sum later.
Structured settlement is only applicable in cases of serious injury, or in cases of permanent injuries.
Augustus Hair said that, “no matter how you fix a broken glass, the scars won’t go.” So yes all damages can be paid out, but cannot be recovered. You cannot bring back the victim’s previous health condition. But you can pay so that the victim doesn’t face any problems for it.