What term refers to a token award to symbolize vindication of the wrong done to the plaintiff, typically $1.00?

The term that refers to a token award to symbolize vindication of the wrong done to the plaintiff, typically amounting to $1.00, is nominal damages. Nominal damages are awarded in situations where a violation of rights has occurred, but there is no significant loss or injury to compensate in monetary terms.

The essence of nominal damages lies in acknowledging that a legal wrong took place, despite the absence of actual harm that would warrant significant financial reparation. This token amount serves to affirm the plaintiff's rights and the court's acknowledgment of the wrong, thus providing a sense of vindication.

In contrast, punitive damages are designed to punish the defendant for particularly egregious behavior and deter similar future actions, focusing on punishment rather than compensating for loss. Compensatory damages aim to reimburse the plaintiff for actual losses incurred, while restitution seeks to restore the injured party to the position they were in before the wrongdoing, both of which involve substantial amounts rather than symbolic sums like nominal damages.