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LSDefine

Simple English definitions for legal terms

economic-harm rule

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A quick definition of economic-harm rule:

The economic-harm rule, also known as the economic-loss rule, is a principle in tort law that states a plaintiff cannot sue for purely monetary loss caused by the defendant, unless there is fraud or negligent misrepresentation involved, or a special relationship exists between the parties. This means that if someone suffers financial loss without physical injury or property damage, they cannot sue for compensation. However, there are exceptions to this rule in certain circumstances.

A more thorough explanation:

The economic-harm rule, also known as the economic-loss rule or economic-loss doctrine, is a principle in tort law that states a plaintiff cannot sue to recover purely monetary loss caused by the defendant, without physical injury or property damage.

For example, if a company purchases a defective product that causes them to lose money, they cannot sue the manufacturer for economic loss under the economic-harm rule. However, there are exceptions to this rule, such as when the defendant commits fraud or negligent misrepresentation, or when a special relationship exists between the parties.

One way the courts have attempted to distinguish between tort and warranty is by using the economic-harm rule. This common law doctrine has achieved the status of the economic-loss doctrine in some states, meaning that once loss is defined as economic, it cannot be recovered in negligence or strict tort, and perhaps not in fraud or misrepresentation.

For instance, if a contractor builds a house with a faulty foundation, and the homeowner suffers economic loss due to the cost of repairs, they cannot sue the contractor under the economic-harm rule. However, if the contractor knowingly concealed the foundation's defects, the homeowner may be able to sue for fraud or negligent misrepresentation.

Overall, the economic-harm rule limits a plaintiff's ability to recover purely monetary loss in tort law, but there are exceptions to this rule in certain circumstances.

economic frustration | economic indicator

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JumpySubsequentDolphin
10:11
like it wasn’t painful or anything and I have no experience w piercings
BulbasaurNoLikeCardio
10:11
@jackfrost11770: depending the piercing she had and the activity they would clack. Like she had ones that would be like chains too
10:11
I have a few words to exchange in our native tongue
babycat
10:11
@renard99: you sound so sinister lmaooo
10:11
LMFAO
babycat
10:12
also I don’t think you can dm without lsd+
BulbasaurNoLikeCardio
10:12
@babycat: they make boob tape so you don't have to wear a bra while keeping them supported and perky looking? At least I think that is what boob tape does
babycat
10:12
Yeah but I’m not gonna tape my boobs everyday that seems so annoying
i'm gonna be honest idk how to dm on here LOL but i think u need lsd+ haha
BulbasaurNoLikeCardio
10:13
I am worried a nose piercing would like mess with my cardio even though everyone says no
10:13
Oh shoot hm
10:13
Do you have Discord
но здравствуй да русский мой первый язык так что :)
10:13
Ахахахах ну давай, добавь меня бро
JumpySubsequentDolphin
10:13
@BulbasaurNoLikeCardio: I’m very confused how would that interfere
10:13
Ща кину свой ник
10:13
Ща кину свой ник
BulbasaurNoLikeCardio
10:14
@babycat: then it sounds like if you get them pierced itll just be a secrete to surprise your future boo with since thy wont be poking out of your shirt
10:14
@jackfrost11770: reynard1 на Дискорде
babycat
10:14
yeah but like is that worth it for me? prob not. I think I like them the way they are
BulbasaurNoLikeCardio
10:15
@JumpySubsequentDolphin: For nose piercing I am thinking the like middle of your nose with the ring kinda thing, think itll like restrict airflow
babycat
10:15
woah you got a word for discord in russian that’s crazy
спасибо 🫡
triplethread
10:15
@BulbasaurNoLikeCardio: My nose is pierced and I run like 10 miles a week im good haha
BulbasaurNoLikeCardio
10:16
@babycat: if you are happy with them they look perfect, and if they are as big as you say I am sure people will still be looking with or without the piercing so you will get attention either way
Dkk
10:16
Closest I get to Russian is Lazy Square's cartoons. Should watch them. All very short cus he is lazy. https://www.youtube.com/watch?v=sGBkneu30Aw
JumpySubsequentDolphin
10:16
@BulbasaurNoLikeCardio: ohhh you mean septum? I think septum is even less painful than a nostril piercing
warning my discord pfp is fun lol and also i haven't changed my username since high school because i didn't feel like it 😭
10:18
LMAO yeah you have a fun pfp
BulbasaurNoLikeCardio
10:20
Yes the septum, so they don't feel weird or mess with breathing/running at all even when flipped in? At limit
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