The IT Law Wiki

Economic loss doctrine

32,284pages on
this wiki
Add New Page
Talk0 Share

Definition Edit

The economic loss doctrine is

a judicially created doctrine providing that a commercial purchaser of a product cannot recover from a manufacturer under tort theories damages that are solely economic losses. When contractual expectations are frustrated because of a defect in the subject matter of a contract, a party’s remedy instead lies exclusively in contract.

The doctrine does not bar claims involving physical injury or physical harm to property, however, as those are considered proper tort claims.[1]

References Edit

  1. Budgetel Inns, Inc. v. Micro Sys., Inc., 8 F. Supp. 2d 1137, 1141 (E.D. Wis. 1998)(full-text) (citations omitted).

Ad blocker interference detected!

Wikia is a free-to-use site that makes money from advertising. We have a modified experience for viewers using ad blockers

Wikia is not accessible if you’ve made further modifications. Remove the custom ad blocker rule(s) and the page will load as expected.

Also on Fandom

Random Wiki