Key Asbestos Case Worth Factors
Posted on Monday, March 12th, 2018 at 5:48 am
Key Asbestos Case Worth Factors
Because every asbestos case is unique, there is no accurate formula that will determine the value of your case. However, there are key factors that must be taken into consideration. This article will look at key factors that can help determine your asbestos case worth.
It must be noted that the value of an asbestos case like any other kind of injury based lawsuit depends on a number of variables. Some of these variables include the following:
Case Worth Variable
- Economic damages – these basically measure how much money a person has lost because of their asbestos-related disease. Some of the easier costs to determine are medical expenses which are measured by medical bills and out-of-pocket expenses. Such as pharmacy costs, doctor visits, etc. Other damages incurred are from loss of income. However, these depend on both the amount of income and the number of years impacted on.
- Non-economic damages – these are damages that are difficult to calculate or put a dollar figure on. Such damages include pain and suffering losses. As a general rule, medical costs provide a marker of pain and suffering. For example, if a person has incurred $100000 in medical costs and has spent 6 months in and out of hospital it is almost certain that the individual has experienced more pain and suffering then a person with $10000 of medical costs and a few doctor’s visits. However, the medical costs only indicate a small degree of the pain and suffering. Deposition testimony provide significant evidence with regards to how the disease has affected your life. And loss of enjoyment of life determines to some extent your pain and suffering.
- The defendants – some asbestos defendants have more assets than others and two equally liable defendants might settle for two different amounts. In addition, a defendant’s financial status can change during the course of the case. For example, a defendant might go bankrupt.
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