Monetary damages refer to a sum of money awarded to a person or entity as compensation for loss or injury. This type of compensation is typically determined by a court in civil cases, where one party seeks to recover financial losses caused by another party's actions. The goal is to restore the injured party to the financial position they would have been in had the harm not occurred. There are different types of monetary damages, including compensatory damages, which cover actual losses, and punitive damages, which are intended to punish the wrongdoer. The amount awarded can vary based on the severity of the injury and the circumstances surrounding the case.