Rules set boundaries on what is permissible damages evidence. For example, most jurisdictions have established value definitions (fair market value, fair value, etc.) that apply in certain circumstances. Some of these rules have been codified as regulations; others have evolved from a long line of court decisions.
The judiciary monitors and refines the boundaries for evidence on damages, and it is incumbent on litigators to keep abreast of these developments and to continually assess the possible ramifications for their cases.
In this, the inaugural edition of The Global Damages Review, we survey the codified rules and common law principles underpinning the presentation of damages evidence. We also summarise recent common law decisions that provide new or improved guidance on these frameworks.
This first edition summarises principles governing the quantification of expert financial evidence in select common law jurisdictions, including the United States, the United Kingdom, Canada and Australia, and highlights important precedents from recent case law in each of the jurisdictions.
The intention is that this inaugural edition will provide the reader with foundational information highlighting the issues that arise with this type of evidence, and each jurisdiction's approach to managing these issues.
Subsequent editions of The Global Damages Review will build on the foundation set in this first edition, by delving deeper into concepts underpinning damages quantification, and by providing summaries of important common law decisions handed down during the year.
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Duff & Phelps