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Simple English definitions for legal terms

economic-loss rule

Read a random definition: Royal Marriages Act

A quick definition of economic-loss rule:

The economic-loss rule is a legal principle that says a person cannot sue someone else for money they lost, unless they were physically hurt or their property was damaged. However, there are some exceptions to this rule, such as if the other person lied or if they had a special relationship with the person who lost money. This rule is sometimes called the economic-harm rule or the economic-loss doctrine.

A more thorough explanation:

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

For example, if a company purchases a defective product that causes financial loss, they cannot sue the manufacturer for tort damages. However, if the manufacturer made fraudulent claims about the product, the economic-loss rule may not apply, and the company could sue for damages.

Another exception to the economic-loss rule is when a special relationship exists between the parties, such as an attorney-client relationship. In such cases, the plaintiff may be able to sue for economic loss caused by the defendant.

The economic-loss rule is intended to distinguish between tort and warranty claims and prevent plaintiffs from seeking damages for purely financial losses.

economic loss | economic obsolescence

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13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
14:17
How are the vibes heading into thanksgiving yall?
HopefullyInLawSchool
14:17
@Law-Guy Im feeling kinda happy I applied YM to UCI hoping it helps (:
Wanna give some head
soap
14:18
Cornell
14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
14:26
No wave, so sad.
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