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21 lis 2023 · Consequential economic loss is any financial loss that results directly from another loss, event, or circumstance. This can therefore include damages such as property damage.
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Loss which is consequential upon the infringement of a right is recoverable, loss which is not so consequent is irrecoverable. If you experience economic loss as a result of intentional or negligent actions, the economic loss consequential upon the right violated are prima facie recoverable.
6 maj 2022 · What is clear in the transnational definition of “pure economic loss” is the negative cast and the economic character of this loss. In countries where the term is explicitly used its meaning is essentially explained in a negative way.
1 mar 2007 · Law and economics shows that a key factor in determining the optimal economic loss rule is found in the relationship between pure economic loss and social loss. Economic loss should be compensable in torts only to the extent that it corresponds to a socially relevant loss.
There are two types of economic loss: Consequential: refers to economic losses directly linked to any physical loss, for example lost wages for time off work after breaking a leg in a car accident, or the physical cost of repairing a car following an accident.
1 mar 2007 · A pure economic loss may generally be defined as a financial loss not causally consequent upon physical injury to the plaintiff or his property or other infringement of his absolute (that is, protected erga omnes) rights. It is obvious that this definition is over inclusive as it, e.g. includes cases of blockade of property (for instance, of ...
23 mar 2021 · Consequentialism can be defined as an instrumentalist approach to ethics that consists in evaluating a given system through its resulting effects (Pettit 2003; Anscombe 2005; Blackburn 2008), i.e., through the maximization of gains and the minimization of losses it enables (Baggini and Fosl 2007).
