The economic loss doctrine has prevented countless plaintiffs from recovering their economic losses in tort the economic loss doctrine in alaska and the design professional exception if mount pinatubo erupted today with the same intensity as in 1991 it would cause an economic loss of about 2 billion. Economic loss is a term used to describe circumstances when an individual or an organization loses money the term covers financial loss that is usually visible in a balance sheet or other. Economic loss arising directly out of physical damage is recoverable however economic loss unrelated to where the actual or apprehended physical injury is irrecoverable unless the economic loss flows from injury to a person or to damage to property other than the defective property itself development of the law the hedley byrne case which allowed for liability for negligent misstatement . Economic loss is a term of art which refers to financial loss and damage suffered by a person which is seen only on a balance sheet and not as physical injury to person or property there is a fundamental distinction between pure economic loss and consequential economic loss as pure economic loss occurs independent of any physical damage to the person or property of the victim it has also been suggested that this tort should be called commercial loss as injuries to person or property can be
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