What is a Financial or Business Injury?
Written by AskTheLawyers.com™ on behalf of Marc Lenahan with Lenahan Law Firm.
A financial or business injury occurs when one or more parties suffers financial harm as the result of another party’s negligent or intentional conduct; while financial and business injuries generally do not involve a physical injury, the effect’s on a person’s livelihood, savings, and ability to provide for their family can be just as severe.
Common examples of financial and business injuries include but are not limited to:
- Breached contracts
- Fraudulent oil leases
- Mismanaged investments
- Falsely induced investments
Financial injury cases are similar to personal injury cases but involve other areas of law.
While personal injury cases generally include a significant financial injury in the form of medical bills and lost wages, financial injuries are devoid of the physical aspect and therefore require the application of a different area of law. The financial losses that can occur in a financial injury case can be extreme, leaving the victims of the financial attack or negligence destitute. The highly specific nature of financial injury cases is why it’s important to find an attorney who is experienced in both business and injury law. Individuals and small businesses are considered particularly susceptible to financial and business injuries, seeing as larger corporations typically have high-dollar legal teams on their side.
However, many financial injury lawyers combat this phenomenon by offering free consultations and even working on a contingency fee basis, just as they would for a physical injury; this means that a client does not pay for the attorney’s services unless and until they win their case.
Business injuries can be devastating.
Just as with physical injury cases, financial loss can have extreme and negative impacts on a person, family, or business. Finding yourself unable to keep up with bills or expending much more of your savings than you otherwise would have due to another party’s negligent or wrongful actions can be both stressful and dangerous. In fact, it is not uncommon for a person or family to find that their life savings have completely disappeared as a result of a fraudulent investment or illicit financial scheme.
In a world that relies on money to assure basic essentials such as a place to live and food to eat, not to mention the many other expenses a person faces in their daily life, financial injuries deserve to be taken seriously. If you are unsure whether or not your situation qualifies for a business or financial injury lawsuit, it’s better to be on the safe side and discuss your situation with an experienced lawyer. It may be possible for a financial or business lawyer to use the law to force the negligent party to return your money, including compensation for the damages you suffered as a result of their conduct.
To learn more about financial or business injuries, or for help filing a claim, reach out to a financial injury lawyer as soon as possible.