What is a non pecuniary benefit?
Refers to “non-cash” benefits earned by workers in place of salary. This might include education fees, use of a motor vehicle, residential accommodation and so on.
What is the meaning of non pecuniary?
: not consisting of money nonpecuniary compensation allowable under law — U.S. Code.
What is the meaning of pecuniary benefit?
Pecuniary benefit means benefit in the form of money, property, commercial interests or anything else the primary significance of which is economic gain. Pecuniary benefit means any direct or indirect payment of money or any other object of value.
What is the difference between pecuniary and non-pecuniary loss?
Non-pecuniary losses, or non-economic damages, are those damages that are not economic in nature, yet still affect a person’s lifestyle and enjoyment of life. Whereas pecuniary damages are objective in nature, non-pecuniary damages are more subjective.
How are non-pecuniary damages calculated?
Non-pecuniary losses cannot be mathematically calculated in money terms. Clearly in personal injury claims it is not possible to restore the claimant to his position prior to the incident. Therefore, the aim of damages for non-pecuniary losses is to compensate the claimant.
What does pecuniary mean in law?
1. Involving money, monetary or financial. 2. A thing able to be evaluated in terms of money.
What is a non-pecuniary damage?
Non-pecuniary damages in a personal injury claim are those losses that cannot be measured precisely in money. These losses typically include intangibles like pain and suffering, or loss of enjoyment.
What is the main aim of damages for non-pecuniary losses?
Also known as substantial damages. Damages awarded in respect of the actual losses suffered by the claimant. Their purpose is to compensate the claimant for pecuniary and non-pecuniary losses.
What is the legal definition of pecuniary benefits?
Legal definition for PECUNIARY BENEFITS: Monetary benefits. An award or compensation or benefit that is quantifiable in monetary terms. Ask a Legal Question Submit Article
Are there any synonyms for the word pecuniary?
Finot’s journal vaunted her hats, for a pecuniary consideration, and derogated those of Virginie, formerly praised. These measures were subsequently followed by pecuniary relief to those who had lost property. Roget’s 21st Century Thesaurus, Third Edition Copyright © 2013 by the Philip Lief Group.
Which is the best definition of nonpecuniary compensation?
Definition of nonpecuniary : not consisting of money nonpecuniary compensation allowable under law — U.S. Code
Is the word nonpecuniary in the Merriam Webster Dictionary?
Start your free trial today and get unlimited access to America’s largest dictionary, with: Ad free! Join Our Free Trial Now! “Nonpecuniary.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/nonpecuniary. Accessed 18 Jul. 2021.