SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

What is the difference between 'actual damages' and 'punitive damages' in the context of auction-related lawsuits?

They are the same thing Actual damages compensate the injured party for their measurable loss; punitive damages are additional amounts awarded to punish egregious misconduct and deter similar behavior Actual damages are always larger than punitive damages Punitive damages are only awarded in criminal cases

Correct Answer:

Actual damages compensate the injured party for their measurable loss; punitive damages are additional amounts awarded to punish egregious misconduct and deter similar behavior

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