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Law dictionary
Compensation

Compensation

noun

Money paid to make up for damage or loss caused.

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For example

He received compensation for the injuries caused.

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For Common law

Binding precedent

Other useful terms:

Compensation for loss of office

Lump-sum compensation a company pays to an employee whose contract has been ended.

Compensation order

An order by a court to a criminal to compensate the victim of the crime.

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