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- Pure_economic_loss_in_English_Law abstract "Recovery for Pure economic loss in English law, arising from negligence, has traditionally been limited. Notably, recovery for losses that are "purely economic" arise under the Fatal Accidents Act 1976; and for negligent misstatements, as stated in Hedley Byrne v. Heller. Economic loss generally refers to financial detriment that can be seen on a balance sheet but not physically. Economic loss is then divided into "consequential economic loss" - that which arises directly from some physical damage or injury (e.g. loss of earnings from having your arm cut off) and "pure economic loss", which is everything else.The fear behind allowing claims for "pure economic loss" is that potentially unlimited claims could flood in. The risks may be unknowable, and parties would find it impossible to insure. The U.S. judge Benjamin N. Cardozo famously described it as, "liability in an indeterminate amount, for an indeterminate time, to an indeterminate class".Examples of pure economic loss include:Loss of income suffered by a family whose principal earner dies in an accident. The physical injury is caused to the deceased, not the family.Loss of market value of a property owing to the inadequate specifications of foundations by an architect.Loss of production suffered by an enterprise whose electricity supply is interrupted by a contractor excavating a public utility.The latter case is exemplified by the case of Spartan Steel and Alloys Ltd v. Martin & Co. Ltd. Similar losses are also restricted in German law though not in French law.".
- Pure_economic_loss_in_English_Law wikiPageID "14673104".
- Pure_economic_loss_in_English_Law wikiPageRevisionID "595431856".
- Pure_economic_loss_in_English_Law hasPhotoCollection Pure_economic_loss_in_English_Law.
- Pure_economic_loss_in_English_Law subject Category:English_tort_law.
- Pure_economic_loss_in_English_Law subject Category:Judicial_remedies.
- Pure_economic_loss_in_English_Law subject Category:Law_and_economics.
- Pure_economic_loss_in_English_Law type Abstraction100002137.
- Pure_economic_loss_in_English_Law type Act100030358.
- Pure_economic_loss_in_English_Law type Action100037396.
- Pure_economic_loss_in_English_Law type Change100191142.
- Pure_economic_loss_in_English_Law type ChangeOfState100199130.
- Pure_economic_loss_in_English_Law type Correction100258854.
- Pure_economic_loss_in_English_Law type Event100029378.
- Pure_economic_loss_in_English_Law type Improvement100248977.
- Pure_economic_loss_in_English_Law type JudicialRemedies.
- Pure_economic_loss_in_English_Law type PsychologicalFeature100023100.
- Pure_economic_loss_in_English_Law type Redress100259177.
- Pure_economic_loss_in_English_Law type YagoPermanentlyLocatedEntity.
- Pure_economic_loss_in_English_Law comment "Recovery for Pure economic loss in English law, arising from negligence, has traditionally been limited. Notably, recovery for losses that are "purely economic" arise under the Fatal Accidents Act 1976; and for negligent misstatements, as stated in Hedley Byrne v. Heller. Economic loss generally refers to financial detriment that can be seen on a balance sheet but not physically.".
- Pure_economic_loss_in_English_Law label "Pure economic loss in English Law".
- Pure_economic_loss_in_English_Law sameAs Q7261146.
- Pure_economic_loss_in_English_Law sameAs Q7261146.
- Pure_economic_loss_in_English_Law sameAs Pure_economic_loss_in_English_Law.
- Pure_economic_loss_in_English_Law wasDerivedFrom Pure_economic_loss_in_English_Law?oldid=595431856.
- Pure_economic_loss_in_English_Law isPrimaryTopicOf Pure_economic_loss_in_English_Law.