Home | News & Events | The Economic Loss Rule: Some Practical Consequences of the Distinction Between Contractual Duties and Other Legal Duties

Articles | February 28, 2007 The Economic Loss Rule: Some Practical Consequences of the Distinction Between Contractual Duties and Other Legal Duties

The “economic loss rule” provides that a party who suffers only economic harm may recover damages for that harm based only upon a contractual claim and not on a tort theory, such as negligence or strict liability. The law of torts provides a basis for recovering for personal injury or property damage.

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