Legal Definitions - Pecuniary

Pecuniary refers to anything that involves money, can be valued in monetary terms, or relates to financial matters. It describes something that has a direct financial aspect or consequence.

Here are some examples to illustrate this concept:

• Example 1: Pecuniary Damages in a Lawsuit

  Imagine a small business owner whose store was damaged by a burst water pipe due to a neighboring tenant's negligence. The owner had to close for a month for repairs, resulting in lost sales and the cost of hiring contractors to fix the damage.

  In a lawsuit, the business owner would seek pecuniary damages. This means they are asking for a specific sum of money to cover their quantifiable financial losses, such as the lost revenue from being closed and the direct costs of repairs. These are losses that can be precisely measured in monetary terms.

• Example 2: Pecuniary Interest in Decision-Making

  Consider a member of a school board who is voting on a contract to supply new computers for all local schools. The board member's sibling owns the company that is bidding for this lucrative contract.

  The board member would be considered to have a pecuniary interest in the outcome of the vote. This is because their sibling's company, and by extension their sibling's financial well-being, stands to gain financially from the contract. This financial stake could potentially influence the board member's decision, even if unintentionally.

• Example 3: Pecuniary Loss in an Investment

  An individual invests a substantial amount of money in a new startup company that, unfortunately, fails to launch its product and eventually goes out of business.

  The money the individual lost in the failed startup represents a pecuniary loss. This is a direct reduction in their financial assets, measurable by the exact amount of money they invested and did not recover. It is a financial detriment that can be calculated precisely.