As in an arbitrators award of being made whole
2006-07-03 06:16:05 · 6 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Under most civil claims, whether in tort or contract, the goal is to achieve a state where you would have been had the improper conduct not occurred.
In contract law, this is generally to get both parties to the state where they would have been had neither party breached the contract. In tort law, the plaintiff is generally seeking compensatory damages, to compensate them for any loss suffered.
Being "made whole" means achieving that result, such that you have not suffered any damage (loss) as a result of the breach or tort. This also includes recovery of any consequential damages (losses that happen as a side-effect of the tort/breach) or reliance damages (money that you expended to try and fix the problem).
The general goal is the same whether you are in an arbitration or a civil court. The main difference is procedural, and what awards the arbiter is allowed to order based on how you got into arbitration.
2006-07-03 08:02:13 · answer #1 · answered by coragryph 7 · 1⤊ 0⤋
First...you're spelling...lol!!!
Being made whole means that whatever loss was incurred as a result of some action be restored thus making one whole. For example: I invested $10 with you misrepresented a material fact about that investment resultinig in a loss of $8 leaving me with $2. The adjudication (not judgement becuause you're arbitrating) would be for $8 putting me back to square one with $10 (in other words WHOLE).
2006-07-03 13:22:57 · answer #2 · answered by thebigm57 7 · 0⤊ 0⤋
What is the definition for defanition?
Being made whole basically means that any loss you suffered from another's actions are paid for/replaced by them. If someone dented your car, you would be made whole if they paid for its repairs and any incidental costs you had related to it, like the cost of a rental car.
If you lost work time due to injury and lost wages, they would pay you that money to make you whole again.
2006-07-03 13:19:15 · answer #3 · answered by Anonymous · 0⤊ 0⤋
To be returned to the same condition (financially) that you were in before the incident that is the subject of the arbitration..
2006-07-03 13:19:29 · answer #4 · answered by MOM KNOWS EVERYTHING 7 · 0⤊ 0⤋
Being restored to the state you were in prior to whatever action took place that ended up in court. Usually this means restored to a job or being given your money back.
2006-07-03 13:25:34 · answer #5 · answered by mdelechat 2 · 0⤊ 0⤋
To be put in the same financial situation prior to your predicament.
2006-07-03 13:22:22 · answer #6 · answered by CaramelKidsMom 3 · 0⤊ 0⤋