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The Economic Loss Rule and Why It Matters in Construction Litigation

from The National Law Review

In summary, while the economic loss rule does not provide an absolute defense to all tort claims, it must certainly be considered in litigation that involves claims sounding in both contract and tort. More importantly, the protection of the economic loss rule begins with the contract itself. Creating, maintaining, and properly executing well-drafted contracts is a foundational requirement to controlling and allocating risk in the construction industry. If you give less attention to your contracts than you do other details of a project, you are placing your company at risk, as you may find yourself defending both contract and tort claims. more


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