WebJan 21, 2009 · The “economic loss” doctrine has led to some interesting insurance cases involving agricultural products in recent years, and a new case illustrates that insurance … WebFew subjects generate more controversy and confusion than Florida’s ever-evolving version of the economic loss rule. The rule has been defined simply enough: “The ‘economic …
What You Need to Know about the Economic Loss Rule
WebSep 1984 - Present38 years 8 months. Practice Areas. • Litigation support and accounting expert testimony. • Fraud investigation. • Business interruption/loss of earnings. • Damages quantification. • Physical damage quantification. • Stock and contents losses. • Third party and product liability. WebEconomic Loss Rule, absent any exceptions, “bars unintentional tort actions when the plaintiff seeks to recover ‘purely economic losses.’” The court reasoned that the rule’s purpose, is “to shield defendants from unlimited liability for all of the economic consequences of a negligent act, particularly in a commercial or professional ... thalia acashore
What is the Economic Loss Doctrine and How Does it …
WebMar 26, 2024 · The Economic Loss Doctrine would ordinarily bar a commercial purchaser of a product from recovering economic losses from the manufacturer under tortious negligence and strict liability theories. In Hinrichs, the plaintiffs designed and installed skylights for certain vehicles. WebThere are two main types of compensatory damages awarded in product liability cases: damages paid for economic losses and damages paid for non-economic losses. Economic loss damages are paid to the plaintiff in product liability cases to compensate them for the loss of finances caused by the product malfunction or defective product. WebNov 25, 2024 · Nevertheless, there are circumstances when the economic loss rule might eliminate a contractor or subcontractor’s liability entirely. First, “economic loss” includes damage to the value of a product (such as costs to replace or repair the product), lost profits and business opportunities, loss of use of the product, and a product’s ... thalia a10 wildau