Pure economic loss, the Glossary

Table of Contents

1. 39 relations: Architect, Bacterial wilt, Balance sheet, Bürgerliches Gesetzbuch, Beneficiary, Benjamin N. Cardozo, Caltex, Canadian National Railway Co v Norsk Pacific Steamship Co, Common law, Commonwealth Law Reports, Dartmouth Law Journal, Dredging, Hedley Byrne & Co Ltd v Heller & Partners Ltd, Insurance, Jargon, Jurisdiction, Latent defect, Law of France, Law of Germany, Law Reports, Legal guardian, Lost sales, New York Court of Appeals, Opportunity cost, Pipeline, Privity of contract, Product liability, Remoteness in English law, Roger J. Traynor, Solicitor, Spartan Steel & Alloys Ltd v Martin & Co (Contractors) Ltd, State supreme court, Supreme Court of Canada, Supreme Court of the United States, Testamentary disposition, Testator, Tort, Ultramares Corp. v. Touche, United States.

Architect

An architect is a person who plans, designs, and oversees the construction of buildings.

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Bacterial wilt

Bacterial wilt is a complex of diseases that occur in plants such as Cucurbitaceae and Solanaceae (tomato, common bean, etc.) and are caused by the pathogens Erwinia tracheiphila, a gram-negative bacterium, or Curtobacterium flaccumfaciens pv. flaccumfaciens, a gram-positive bacterium.

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Balance sheet

In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity.

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Bürgerliches Gesetzbuch

The Bürgerliches Gesetzbuch, abbreviated BGB, is the civil code of Germany, codifying most generally-applicably private law.

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Beneficiary

A beneficiary in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor.

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Benjamin N. Cardozo

Benjamin Nathan Cardozo (May 24, 1870 – July 9, 1938) was an American lawyer and jurist who served on the New York Court of Appeals from 1914 to 1932 and as an Associate Justice of the Supreme Court of the United States from 1932 until his death in 1938.

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Caltex

Caltex is a petroleum brand name of Chevron Corporation used in the Asia-Pacific region, the Middle East, and Southern Africa.

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Canadian National Railway Co v Norsk Pacific Steamship Co

Canadian National Railway Co v Norsk Pacific Steamship Co, 1 SCR 1021 is a leading Supreme Court of Canada decision on pure economic loss in tort law.

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Common law

Common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions.

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Commonwealth Law Reports

The Commonwealth Law Reports (CLR) are the authorised reports of decisions of the High Court of Australia.

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Dartmouth Law Journal

The Dartmouth Law Journal, formerly the Dartmouth College Undergraduate Journal of Law, is a student-run legal journal founded in 2003.

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Dredging

Dredging is the excavation of material from a water environment.

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Hedley Byrne & Co Ltd v Heller & Partners Ltd

Hedley Byrne & Co Ltd v Heller & Partners Ltd AC 465 is an English tort law case on economic loss in English tort law resulting from a negligent misstatement.

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Insurance

Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury.

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Jargon

Jargon or technical language is the specialized terminology associated with a particular field or area of activity.

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Jurisdiction

Jurisdiction (from Latin juris 'law' + dictio 'speech' or 'declaration') is the legal term for the legal authority granted to a legal entity to enact justice.

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Latent defect

In the law of the sale of property (both real estate and personal property or chattels) a latent defect is a fault in the property that could not have been discovered by a reasonably thorough inspection before the sale. Pure economic loss and latent defect are tort law.

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Law of France

French law has a dual jurisdictional system comprising private law (droit privé), also known as judicial law, and public law (droit public).

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Law of Germany

The law of Germany (Recht Deutschlands), that being the modern German legal system (deutsches Rechtssystem), is a system of civil law which is founded on the principles laid out by the Basic Law for the Federal Republic of Germany, though many of the most important laws, for example most regulations of the civil code (Bürgerliches Gesetzbuch, or BGB) were developed prior to the 1949 constitution.

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Law Reports

The Law Reports is the name of a series of law reports published by the Incorporated Council of Law Reporting.

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Legal guardian

A legal guardian is a person who has been appointed by a court or otherwise has the legal authority (and the corresponding duty) to make decisions relevant to the personal and property interests of another person who is deemed incompetent, called a ward.

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Lost sales

Lost sales, also referred to as lost revenue, income or profit, is a term used in the context of Internet piracy to refer to sales that did not occur because potential customers have chosen not to buy a product but to obtain it from an illegal source for a lower cost or for no cost.

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New York Court of Appeals

The New York Court of Appeals is the highest court in the Unified Court System of the State of New York.

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Opportunity cost

In microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives.

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Pipeline

A pipeline is a system of pipes for long-distance transportation of a liquid or gas, typically to a market area for consumption.

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Privity of contract

The doctrine of privity of contract is a common law principle which provides that a contract cannot confer rights or impose obligations upon anyone who is not a party to that contract.

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Product liability

Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause.

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Remoteness in English law

In English law, remoteness between a cause of action and the loss or damage sustained as a result is addressed through a set of rules in both tort and contract, which limit the amount of compensatory damages available for a wrong.

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Roger J. Traynor

Roger John Traynor (February 12, 1900 – May 14, 1983) was the 23rd Chief Justice of California (1964–1970) and an associate justice of the Supreme Court of California from 1940 to 1964.

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Solicitor

A solicitor is a legal practitioner who traditionally deals with most of the legal matters in some jurisdictions.

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Spartan Steel & Alloys Ltd v Martin & Co (Contractors) Ltd

Spartan Steel & Alloys Ltd v Martin & Co (Contractors) Ltd QB 27 is a well-known English Court of Appeal case concerning the recovery of pure economic loss in negligence.

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State supreme court

In the United States, a state supreme court (known by other names in some states) is the highest court in the state judiciary of a U.S. state.

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Supreme Court of Canada

The Supreme Court of Canada (SCC; Cour suprême du Canada, CSC) is the highest court in the judicial system of Canada.

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Supreme Court of the United States

The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States.

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Testamentary disposition

A testamentary disposition is any gift of any property by a testator under the terms of a will.

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Testator

A testator is a person who has written and executed a last will and testament that is in effect at the time of their death.

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Tort

A tort is a civil wrong that causes a claimant to suffer loss or harm, resulting in legal liability for the person who commits the tortious act. Pure economic loss and tort are tort law.

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Ultramares Corp. v. Touche

Ultramares Corporation v. Touche, 174 N.E. 441 (1932) is a US tort law case regarding negligent misstatement, decided by Cardozo, C.J. It contained the now famous line on "floodgates" that the law should not admit "to a liability in an indeterminate amount for an indeterminate time to an indeterminate class.".

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United States

The United States of America (USA or U.S.A.), commonly known as the United States (US or U.S.) or America, is a country primarily located in North America.

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References

[1] https://en.wikipedia.org/wiki/Pure_economic_loss

Also known as Economic loss.