Tort Liability for Pure Economic Loss: A Perspective from the United States and Some Comparative European Insights

7 Journal of European Tort Law 237 (Dec. 2016)

NYU Law and Economics Research Paper

Posted: 19 May 2017 Last revised: 25 Jan 2018

Date Written: December 1, 2016

Abstract

This article describes and evaluates from a comparative perspective the approach to tort liability for pure economic loss adopted in the Restatement (Third) Torts: Liability for Economic Harm. The analysis highlights three fundamental issues: whether a claim in tort can arise concurrently with a claim in contract; whether claims for professional negligence merit special treatment and, if so, how; and whether claims relating to negligent misrepresentation should be subject to the same rules as apply to negligence generally. Consideration of how these issues are addressed in English, French, and German law suggests that debates in the United States might usefully be informed by European experience.

Keywords: Economic Loss Rule, Economic Harm, Concurrent Remedies, Tort, Contract

JEL Classification: K13

Suggested Citation

Sharkey, Catherine M., Tort Liability for Pure Economic Loss: A Perspective from the United States and Some Comparative European Insights (December 1, 2016). 7 Journal of European Tort Law 237 (Dec. 2016), NYU Law and Economics Research Paper, Available at SSRN: https://ssrn.com/abstract=2970702

Catherine M. Sharkey (Contact Author)

New York University School of Law ( email )

40 Washington Square South
New York, NY 10012-1099
United States
212-998-6729 (Phone)

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