A Year After Tiara, How Much Has Changed?

Law360, New York (July 11, 2014, 10:07 AM EDT) -- In March 2013, the Florida Supreme Court issued a seminal decision for businesses and commercial litigators, Tiara Condominium Association Inc. v. Marsh & McLennan Companies, 110 So. 3d 399 (Fla. 2013), in which it expressly limited the applicability of the economic loss rule to products liability cases. For decades, Florida courts had applied the economic loss rule to prohibit a party in contractual privity from seeking to recover economic damages arising from the contract. Tiara removed this quiver from the commercial litigator's arsenal....

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