Lump-Sum Award Law and Legal Definition
Lump-Sum Award refers to an award granted by a court that covers past losses and losses likely to be suffered in the future. Past losses include the loss up to the time of judgment. An example is an award for damages.
Generally there is only one award of damages. However, in the case of a continuing wrong, interim payments can be ordered pending the final estimation of damages. An example is for a trespass. In actions for personal injuries in which the claimant develops a serious disease, provisional damages can be granted. In such situations, claimants demand for further damages at a future date. In structured settlements, courts include periodic payments and lump sum.