AQA LAW4 economic loss notes

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  • Created on: 07-06-13 19:35
Preview of AQA LAW4 economic loss notes

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When loss is financial rather than physical, liability is more limited ­
`floodgates'
Ultramares v Touche ­ allowing claims for pure economic loss would lead
to liability `in an indeterminate amount, for an indefinite time
and to an indeterminate class' ­ open the floodgates to claims!
There is a distinction between economic loss and pure economic
loss ­ where there is a claim for money, no physical damage =
pure economic loss
General principle = pure economic loss is not recoverable (Weller v Foot
and Mouth)
It can be recovered if it is dependent on damage to property or
other physical injury (Spartan Steel and Alloys v Martin)

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