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Study with Quizlet and memorize flashcards containing terms like Consequential economic loss, case support, The Fortunity 1961 and more.
Study with Quizlet and memorise flashcards containing terms like What is the definition of economic loss?, What is the definition of consequential economic loss?, What is the definition of pure economic loss? and others.
Study with Quizlet and memorize flashcards containing terms like Consequential economic loss, Pure Economic Loss, DOC in financial losses and more.
Consequential economic loss (‘CEL’) is financial loss stemming directly from corporeal and/or property damage to the C as a result of the D’s negligent act or omission, which is generally recoverable.
What is the definition of consequential economic loss? Financial loss that stems directly from the harm caused by negligence. Financial loss that occurs as a result of another harm (personal injury/property damage) caused by negligence. Non-pecuniary loss which can't be accurately assessed.
The CoA made it clear that economic loss, that is consequential upon physical damage, is recoverable. The loss of profit on the “hypothetical” melts was pure economic loss and was therefore not recoverable.
15 paź 2018 · Consequential loss is not an overly complex subject. In a nutshell, consequential loss is an indirect loss resulting from an insured’s inability to use business property or equipment. It’s directly caused by another event.
