QUESTION
General question - judgments Consumer Fraud and Mortgage Fraud
Asked on Jan 06th, 2012 on Litigation - New Jersey
More details to this question:
1. If there are 8 defendants listed in a fraud case and they lose, is the money judgement (say 100K) divided equally for payment or will they each have to pay the amount awarded (8 x 100K) , will the Judge decide the award amount?
2. What happens if 2 defendants decide to settle out of court?
3. What would the average settlement percentage be (25%, 50%, 75%) of the (100K)?
4. If punitive damages are awarded (in NJ - 5 times actual loss or 350K, whichever is greater) do each pay the full amount or is that divided equally as well?
1 ANSWER
1 Award
The judgment will say if it is "joint and several" which means all can be required to pay the whole, or not. There is no rule on a settlement amount. Punitive damages are rarely awarded.
Answered on Jan 08th, 2012 at 11:20 PM