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McCRANN v. UNITED STATES LINES, INC.

Nos. 177, 288, Dockets 86-7485, 86-7545.

803 F.2d 771 (1986)

Dennis McCRANN, Plaintiff-Appellee, Cross-Appellant, v. UNITED STATES LINES, INC., Defendant-Appellant, Cross-Appellee.

United States Court of Appeals, Second Circuit.

Decided October 20, 1986.

Attorney(s) appearing for the Case

George J. Cappiello, Jr., Phillips & Cappiello, P.C., New York City, for plaintiff-appellee, cross-appellant.

Richard C. Burns, Gulmi LaPenta Campbell Burns & Mahoney, New York City, for defendant-appellant, cross-appellee.

Before KAUFMAN, KEARSE and ALTIMARI, Circuit Judges.

IRVING R. KAUFMAN, Circuit Judge:

As any student of elementary economics knows, time has monetary value for some purposes. A dollar in hand today is worth more than a dollar to be paid a year from today, and a dollar a year from today is worth more than a dollar to be received in two years. This basic principle of finance is employed by courts daily in calculating appropriate damage awards, to ensure that parties receive neither an undeserved windfall nor an unfair...

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