15.72 DAMAGES: PRESENT VALUE OF FUTURE LOSS is a type of monetary compensation awarded by a court to a plaintiff in a civil lawsuit in lieu of actual losses that have not yet occurred, but are expected to occur in the future. This type of damage award is calculated by taking the estimated cost of loss, subtracting any amount that has already been paid or received by the plaintiff, and then calculating the present value of the remaining amount. The calculation takes into account the time value of money and factors in inflation and any other economic variables that may affect the value of the award over time. This type of damage award is commonly awarded in cases involving personal injury, wrongful death, breach of contract, and medical malpractice.
15.72 DAMAGES: PRESENT VALUE OF FUTURE LOSS
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