Economic as with any civil litigation case it is as

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Unformatted text preview: onomic As with any civil litigation case it is As necessary to prove: necessary – Liability: some wrongful event has occurred, Liability: usually a tort usually – As a result of this wrongful event the plaintiff As has incurred some measurable damages has » The plaintiff must present and defend the damage The amount amount » The defendant will attempt to reduce or eliminate The any damage measure of the plaintiff any Chapter 12 Forensic and Investigative Accounting 4 General Theory of Economic Damages Damages The wrongful act of the tortfeaser has caused the The plaintiff to be in a different position that he/she otherwise would be otherwise Ideally the compensable damages will restore the Ideally injured party to his/her previous position injured Damages will depend upon what the law will Damages allow allow – Different states allow different measures of Different damages under varying circumstances damages Forensic and Investigative Accounting 5 Chapter 12 Wrongful Death with Dependents Wrongful Lost wages Lost benefits Lost services provided to survivors Funeral and administration of the estate Less income that the deceased would have Less used for consumption used Chapter 12 Forensic and Investigative Accounting 6 Wrongful Death of a Child Wrongful Loss of a child’s services Medical and funeral expenses Cost of counseling for remaining family Non-economic-loss of love and Non-economic-loss companionship to the end of the last parent’s life parent’...
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This note was uploaded on 05/03/2011 for the course ACCT 574 taught by Professor Gardner during the Winter '11 term at Keller Graduate School of Management.

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