Actual Damages

Actual Damages
Losses directly referable to a breach or tortious act; losses that can readily be proven to have been sustained, and for which the injured party should be compensated as a matter of right.
Incidental Damages
Incidental damages refer to losses that are reasonably related to the wrongful conduct that gives rise to a claim for actual damages. These damages are intended to cover additional costs incurred by a party due to another party’s breach or misconduct.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.