Economic loss

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  • Created by: Sahar
  • Created on: 03-02-15 16:09

Economic loss

Consequential economic loss: loss occured from physical loss

Pure economic loss: loss with no physical loss- cannot claim unless caused by negligent misstatement -fear of floodgates 

Spartan steel v martin- powercut

1-metal damage - physical :/

2- loss of profitfrom metal damage- consequential :/

3- loss of profit on planned melts- pure economic X

Few exceptions: White v Jones :/

fathers/daughters/back on will/solicitor delayed/father died/C lost out -allowed pure economic loss as no floodgates 

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