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

译者Peter，毕业于亚洲顶尖的高级翻译学院，擅长翻译各种与复杂金融产品相关的法律文件。