economic loss rule

economic-loss rule. Torts. The principle that a plaintiff cannot sue in tort to recover for purely monetary loss — as opposed to physical injury or property damage — caused by the defendant. • Many states recognize an exception to this rule when the defendant commits fraud or negligent misrepresentation, or when a special relationship exists between the parties (such as an attorney–client relationship).

— Also termed economic-harm rule; economic-loss doctrine.

“One way the courts have attempted to draw a line between tort and warranty is to bar recovery for ‘economic loss’ in tort. In some states this common law doctrine has achieved the status of the ‘economic loss doctrine,’ meaning that once loss is defined as ‘economic’ it cannot be recovered at least in negligence or strict tort and perhaps not in fraud or misrepresentation.” 1 James J. White & Robert S. Summers, Uniform Commercial Code § 10-5, at 581 (4th ed. 1995).

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词条贡献者

法律翻译Akira，毕业于一所旨在培养高级翻译专业人才的翻译院校，专注翻译各类与能源行业争议有关的法律文件。