Death of the Economic Loss Rule – Or Just A Case of Legal Semantics?

The economic loss rule has been a long evolving judicial doctrine that served as a basis to prohibit people from suing for damages that result from nonperformance of the contract under a tort theory when the parties had a contract. Simply put, you cannot sue in tort (i.e. for negligence) for breaches of a contract. Contractual remedies apply to breach of a contractual duty, and one is prohibited from seeking damages in tort for breach of contract losses.  Read On . . .