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Today's Terms
Punitive Damages
Definition:
This term refers to damages awarded to a plaintiff over and above compensatory damages, designed to punish the defendant for particularly outrageous and malicious conduct, and to serve as a deterrent to others.
Civil Liability
Definition:
In a civil lawsuit, if a party is found to be at fault, that party is liable. This is equivalent to a guilty verdict in the criminal system, except that civil liability usually means that the party at fault pays money damages to the other party, whereas the guilty party in a criminal suit may have to go to prison.
US CPSC
Definition:
U.S. Consumer Product Safety Commission, they monitor products and issue recalls
More Product Liability Terms >
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