compensation

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Compensation

A pecuniary remedy that is awarded to an individual who has sustained an injury in order to replace the loss caused by said injury, such as Workers' Compensation. Wages paid to an employee or, generally, fees, salaries, or allowances. The payment a landowner is given to make up for the injury suffered as a result of the seizure when his or her land is taken by the government through Eminent Domain.

compensation

n. 1) payment for work performed, by salary, wages, commission or otherwise. It can include giving goods rather than money. 2) the amount received to "make one whole" (or at least better) after for an injury or loss, particularly that paid by an insurance company either of the party causing the damage or by one's own insurer.

compensation

1 a monetary payment for loss or damage.
2 in Scotland, the right to set off one debt against another with the effect of reducing the one by the amount of the other. The right is not available after decree. It applies only to liquid debts or, at the discretion of the court, debts easily made liquid. There must be concursus debiti et crediti, meaning that each party must be the other's debtor and creditor. An executor sued for a private debt has been held unable to plead compensation in respect of a debt owed to him as executor. The rules operate differently in insolvency. See CRIMINAL INJURIES COMPENSATION.

COMPENSATION, chancery practice. The performance of that which a court of chancery orders to be done on relieving a party who has broken a condition, which is to place the opposite party in no worse situation than if the condition had not been broken.
     2. Courts of equity will not relieve from the consequences of a broken condition, unless compensation can be made to the opposite party. Fonb. c. 6; s. 51 n. (k) Newl. Contr: 251, et. seq.
     3. When a simple mistake, not a fraud, affects a contract, but does not change its essence, a court of equity will enforce it, upon making compensation for the error, The principle upon which courts of equity act," says Lord Chancellor Eldon, "is by all the authorities brought to the true standard, that though the party had not a title at law, because he had not strictly complied with the terms so as to entitle him to an action, (as to time for instance,) yet if the time, though introduced, as some time must be fixed, where something is to be done on one side, as a consideration for something to be done on the other, is not the essence of the contract; a material object, to which they looked in the first conception of it, even though the lapse of time has not arisen from accident, a court of equity will compel the execution of the contract upon this ground, that one party is ready to perform, and that the other ma, have performance in substance if he will permit it." 13 Ves. 287. See 10 Ves. 505; 13 Ves. 73, 81, 426; 6 Ves. 675; 1 Cox, 59.

COMPENSATION, contracts. A reward for services rendered.

COMPENSATION, contracts, civil law. When two persons are equally indebted to each other, there takes place a compensation between them, which extinguishes both debts. Compensation is, therefore, a reciprocal liberation between two persons who are creditors and debtors to each other, which liberation takes place instead of payment, and prevents a circuity. Or it may be more briefly defined as follows; compensatio est debiti et crediti intter se contributio.
     2. Compensation takes places, of course, by the mere operation of law, even unknown to the debtors the two debts are reciprocally extinguished, as soon as they exist simultaneously, to the, amount of their respective sums. Compensation takes place only between two debts, having equally for their object a sum of money, or a certain quantity of consumable things of one and the same kind, and which are equally liquidated and demandable. Compensation takes place, whatever be the cause of either of the debts, except in case, 1st. of a demand of restitution of a thing of which the owner has been unjustly deprived; 2d. of a demand of restitution of a deposit and a loan for use; 3d. of a debt which has for its cause, aliments declared not liable to seizure. Civil Code of. Louis. 2203 to 2208. Compensation is of three kinds: 1. legal or by operation of law; 2. compensation by way of exception; and, 3. by reconvention. 8 L. R. 158; Dig. lib. 16, t. 2; Code, lib. 4, t. 31; Inst. lib. 4, t' 6, s. 30; Poth. Obl. partie. 3eme, ch. 4eme, n. 623; Burge on Sur., Book 2, c. 6, p. 181.
     3. Compensation very nearly resembles the set-off (q.v.) of the common law. The principal difference is this, that a set-off, to have any effect, must be pleaded; whereas compensation is effectual without any such plea, only the balance is a debt. 2 Bouv. Inst. n. 1407.

COMPENSATION, crim. law; Compensatio criminura, or recrimination (q.v.)
     2. In cases of suits for divorce on the ground of adultery, a compensation of the crime hinders its being granted; that is, if the defendant proves that the party has also committed adultery, the defendant is absolved as to the matters charged in the libel of the plaintiff. Ought. tit. 214, Pl. 1; Clarke's Prax. tit. 115; Shelf. on Mar. & Div. 439; 1 Hagg. Cons. R. 148. See Condonation; Divorce.

COMPENSATION, remedies. The damages recovered for an injury, or the violation of a contract.. See Damages.

References in periodicals archive ?
89(a) to discriminate in favor of highly compensated employees, the Prop.
Wamatangi said a bill was being drafted to ensure that people were compensated before the project starts.
Residents are compensated not only for the simple (with the evaluation of glycemic data using diagnostic gauges for determining the amount of glucose) but also for smart pumping.
Speaking during an assessment visit to Maili Tisa and Kapseret areas where the bypass will pass, Mr Wamatangi said that his team is working round the clock to ensure that they have names of the genuine land owners who need to be compensated."We have a petition in our possession from land owners who have been affected by this project and I want to assure you that we are going to look at it and come up with the names of the genuine people who need to be compensated so that the implementation of this project can go on smoothly," he added.
According to PDMA, In Chitral, 32 out of 33 deceased were compensated besides 30 injured against 200 wounded and 2000 owners of damaged houses out of 20355.
As many as 34 out of 35 dead in Swat, 24 out of 26 deceased in Dir Lower,four out of 16 expired in Dir Upper, 13 out of 18 dead in Torghar and all nine deceased in Kohistan upper were compensated.
We now have Colonel Gaddafi, pictured, and his Libyan government talking about compensating the victims of the IRA as they have admitted their involvement in arming the IRA, yet our own Government have compensated one group of POWs but not the others.
Under the Employee Retirement Income Security Act of 1974, a typical nonqualified plan may be offered only to a "select group of management or highly compensated employees" (often referred to as the top-hat or select group).
What happens to patients before and after the miracle procedures is often forgotten or neglected and is always poorly compensated. The good news is that the "primary care" physician can still write prescriptions for most things, although the profusion of pharmaceuticals confounds the mind and overwhelms the analytic capacity for possible interaction of even the latest supercomputer at the National Institutes of Health.
This system has effectively compensated for the optical distortions that arise within an eyeball and obscure a high-resolution view of the retinal cells.
In general, sections 410(b) and 401(a)(26) require employers to compare participation by, and the level of benefits provided to, highly compensated employees with that of nonhighly compensated employees on an employer-wide basis.
CAS 408 is used to "measure (the) costs of vacation, sick leave, holiday, and other compensated personal absence.