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How far can tort liability expand without imposing excessive burdens upon individual activity? This comprehensive 2003 study of pure economic loss in Europe uses a fact-based comparative method and research into the laws of thirteen European countries. Includes a historical and analytical introduction to economic loss.
'Pure economic loss' - the name points to the fundamental principle of the concept: loss that is only economic in nature and in no way connected to underlying property or physical damage. However, such a clear name obscures the variety of ways this concept is dealt with by the Member States of the European Union. In fact, it is only a minority of legal systems that define this concept at all. The majority does not recognize this category of damage under any name, let alone as an autonomous concept. Yet, pure economic loss holds an important place in tort law and is approached with trepidation by many policy-minded judges all over the EU. It is important for European lawyers to fully understand what pure economic loss is, how it is viewed in different countries, and to understand the implications of European Union law on recovery of pure economic loss. This paper will first address the ways in which one can study a topic approached in such diverse ways throughout the Union. Second it will explain how one can conceptualize this topic in a way that does justice to the EU Member States' perceptions thereof. Finally, it will touch upon how pure economic loss can be understood within the context of developing European Union law for non-contractual liability of institutions, Member States, and individuals. The conclusion will set out the implications these observations have for the future of pure economic loss recoverability in the EU.
Pure economic loss is one of the most-discussed problems in the fields of tort and contract. This book takes a comparative approach to the subject, exploring the principles, policies and rules governing tortious liability for pure economic loss in a number of countries across the world including the USA, Canada, Japan, South Africa and Denmark.
This textbook provides insight into the differences commonalities and mutual influece of the tort law systems of various European jurisdictions, bringing together national tort law, comparative law, EU law, and human rights law.
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.
Today, pure economic loss is probably one of the main problems in expanding tort law. In some countries, it is associated with uncontrollable and unforeseeable floods of claims to which there may be no end. In this book, leading authors shed light on the subject. An attempt is made to include a possible road towards a common European denominator on compensation for pure economic loss. The perspectives presented in this book are manifold. Contributions on the following topics are included: pure economic loss under specific national legal systems and from several comparative law perspectives, legal and economic analyses, tortious liability of banks and auditors, and an outlook on further developments.
This book investigates whether national courts could and should import innovative solutions from abroad in the adjudication of complex legal disputes. Special attention is paid to the concept of “legally relevant damage” and its importance in overcoming the deadlock created by the category of “pure economic loss” in the Portuguese and German tort law systems. These systems are essentially based on the concept of unlawfulness (“Rechtswidrigkeit”), which limits the compensation for pure economic loss to where a protective rule is infringed. These losses have nevertheless been compensated for through the extensive interpretation of rules and the appeal to near-contractual devices, which has been detrimental to legal certainty, the equality before the law, and subjects’ freedom of action. This book explains why courts can and should take a proactive role and apply DCFR-based solutions in order to compensate for every loss that is worthy of legal protection.
In every society Tort Law plays a crucial role in the actual life of the legal system and of the people using it. Whenever relationships between individuals do not converge towards a contract nor are absorbed by property law, then comes the time for tort law rules to provide justice. The goal of comparative research in the law of torts is to clarify diversities and similarities amidst the operative rules of the various legal systems. The need is to go beyond statutory formulas, since in the field of torts, even more than in other areas, the "law" is made by judicial decisions, by the beliefs that underpin these decisions, by insurance practices which affect the allocation of the costs ensuing risks and damages. This comparative analysis calls for an effort which is more and more urgent to the management of private conflicts in a "globalized" world. But this is especially true in Europe, at the dawn of a new era characterized by the enlargement/enrichment of the EU. The issues arising from the infliction of "pure economic" losses, thereby affecting nothing else than the patrimonial sphere of the victim, is in this perspective a very useful case-study to test solutions given to problems, which not only straddle the opaque frontier between contract and tort, but also involve the day-to-day life of your average person, whether s/he be an investor or not, whether s/he be Eastern or Western European. The volume orginates from an international conference that took place in April, 2004 in Trieste, Italy. It is published in co-operation with Stämpfli (Berne), Bruylant (Brussels) and Ant. N. Sakkoulas Publishers (Athens)