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Principals apply in limiting punitive damages

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Reference no: EM131504062

Question 1: With a national debt in the trillions, people are desensitized to " mere" billions. Stop for a moment and consider $ 1 billion. If you had that sum, invested it conservatively, and got a 5 percent return, you could spend roughly $ 1 million a week for the rest of your life without reducing your principal. There are lawsuits with "jackpot" punitive damage awards. The jury award was $ 10 billion in Texaco v. Pennzoil ($ 5 billion in the Exxon Valdez case, and $ 3 billion in Boeken v. Philip Morris).

Is there any point at which the raw number of dollars awarded is just too large? What legal principals apply in limiting punitive damages?

Question 2: Find an article about a business law case that resulted in litigation , mediation, or arbitration.

Describe who is suing (or claiming) against who, and why. Also describe the defenses or opposition to the claims.

Reference no: EM131504062

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