Texas Government Code 4008.103 – Damages
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Terms Used In Texas Government Code 4008.103
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
In damages under § 4008.101(b), the purchaser is entitled to recover:
(1) the amount of any consideration paid for the services, less the amount of any income the purchaser received from acting on the services;
(2) any loss incurred by the purchaser in acting on the services provided by the investment adviser or investment adviser representative;
(3) interest at the legal rate for judgments accruing from the date the purchaser paid the consideration; and
(4) to the extent the court considers equitable, court costs and reasonable attorney’s fees.