Statutory Cap
/ˈstætʃəˌtɔːri kæp/
Definitions
- (n.) A legally imposed maximum limit on damages, fines, fees, or other monetary compensations awarded or charged under a statute.
The statute included a statutory cap on noneconomic damages in personal injury cases.
Forms
- statutory caps
Related terms
See also
Commentary
Statutory caps are used to control excessive awards and manage financial risk in litigation; when drafting, clarity on scope and applicability is essential.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.