1.3 Duty: Pure Economic Loss

Front 1

A characterization of a pecuniary loss that is not a consequence of injury to the person or property of a party.

Back 1

Pure Economic Loss

Front 2

True or False

A party owes a duty of care to a plaintiff who suffers a pecuniary loss from the parties negligent action EVEN IF there is no harm or injury to his property.

Back 2

False
A Def owes no duty of care to a plaintiff who suffers economic loss from defendant's negligent act where the loss is UNACCOMPANIED BY PHYSICAL DAMAGE TO PERSON OR PROPERTY.

Front 3

2 TYPES OF PURE ECONOMIC CASES

Back 3

(1) Negligent Misrepresentation or Misstatement
Causing Economic Loss

(2) NEGLIGENT ACTS CAUSING ECONOMIC LOSS.

Front 4

NO RECOVERY FOR ECONOMIC LOSS, UNLESS PHYSICAL DAMAGE TO PROPERTY OCCURS

Back 4

M/V Testbank