Condominiums: January 2013 Archives

Appeals Court Carves Out Condominium Exception to 'Economic Loss Rule'

The "economic loss rule" prohibits a plaintiff from suing for negligence to recover "pure economic losses," such as lost profits or the cost of replacing an allegedly-defective product. The rule requires a showing of harm to person or property in a negligence case. If a defective product is involved, any property damage asserted must involve property other than the defective product itself.

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