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Simple English definitions for legal terms
lost earnings
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A quick definition of lost earnings:
Lost earnings refer to the money that a person could have earned if they had not lost their job, suffered a disabling injury, or passed away. This type of earnings is often awarded as damages in personal injury and wrongful termination cases. It includes both past and future earnings. Past lost earnings refer to the money that a person would have earned up until the time of the incident, while future lost earnings refer to the money that a person would have earned in the future if the incident had not occurred.A more thorough explanation:
Definition: Lost earnings refer to the wages, salary, or other income that a person could have earned if they had not lost their job, suffered a disabling injury, or died. These earnings are typically awarded as damages in personal injury and wrongful termination cases. Lost earnings can be past or future.
Example: If a person is injured in a car accident and is unable to work for six months, they may be entitled to compensation for their lost earnings during that time. For example, if they were earning $3,000 per month, their lost earnings would be $18,000.
Explanation: This example illustrates how lost earnings are calculated in a personal injury case. The person's earnings before the accident are used as a baseline to determine how much income they lost due to their injury. This compensation is meant to help them cover their expenses and maintain their standard of living while they are unable to work.