Unraveling The Applications Of The Economic Loss Doctrine

Law360, New York (November 3, 2016, 4:10 PM EDT) -- The economic loss doctrine (ELD) is one of the most referenced, and perhaps one of the most frequently misunderstood, legal rules. Unless you have a case in states such as Arkansas or Louisiana, where the ELD has not been expressly adopted, the majority of the rest of the United States have some form or flavor of this legal concept. In general terms, the ELD is a judicially developed doctrine that prohibits tort recovery of economic damages where the parties have a contract and there is no personal injury or property damage to something other than the product itself.

Although each state...

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