Your Economic Damages Are Your Damages That Have a Very Specific Price Tag
Video Transcribed: What are economic damages? This is Christopher Stevens here certified paralegal with the Wirth Law Firm in Tulsa, Oklahoma, working in personal injury in Tulsa. And today, we’re going to be continuing our discussion on damages, specifically economic damages.
Now, your economic damages are your damages that have a very specific price tag. So for instance, that’s going to be your property damage. Your medical bills are probably the biggest economic damage that you usually see. They are all these things that have a very specific price tag listed to them. They’re very concrete.
Now, a lot of the time people might think that incorporates other things, but no, your economic damages are just going to be the things that have a specific price to them.
Now, your pain and suffering or anything like that is going to fall under what is called non-economic damages. And we’ll discuss those a bit more in a future video.