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Recently, the North Carolina Supreme Court issued a decision impacting the application of the economic loss rule in commercial settings, particularly construction.
This article provides a refresher on the economic loss rule before turning to an overview of the Court s decision and its potential impact.
The economic loss rule is a legal construct designed to prohibit recovery under a tort theory of liability, like negligence, for purely economic losses that arise out of a contractual relationship. The overarching premise behind the rule is that parties to a contract are presumed to have considered and contracted for how risk and loss flowing from the contract s subject matter is to be allocated. In other words, allowing a party to a contract to pursue remedies it did not bargain for in negotiating its contract would effectively allow that party to get more than its bargained-for exchange.
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As undergraduates, we see firsthand how the coronavirus pandemic has tested the emotional and educational limits of our peers and professors. For one of us, a senior and teaching assistant at the University of North Carolina at Charlotte, the health crisis has meant struggling through online learning as both a student and an instructor. For the other, a senior at Penn State, it means staring down the barrel of an uncertain job market.
Gettysburg Review Blog gettysburgreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gettysburgreview.com Daily Mail and Mail on Sunday newspapers.
Friday, January 22, 2021
Recently, the North Carolina Supreme Court issued a decision impacting the application of the economic loss rule in commercial settings, particularly construction.
This article provides a refresher on the economic loss rule before turning to an overview of the Court s decision and its potential impact.
The economic loss rule is a legal construct designed to prohibit recovery under a tort theory of liability, like negligence, for purely economic losses that arise out of a contractual relationship. The overarching premise behind the rule is that parties to a contract are presumed to have considered and contracted for how risk and loss flowing from the contract s subject matter is to be allocated. In other words, allowing a party to a contract to pursue remedies it did not bargain for in negotiating its contract would effectively allow that party to get more than its bargained-for exchange.
ASPRS Announces First 2021 GeoByte! Published January 22, 2021
January 29th at 12 Noon ET
Presenter: Eric Delmelle
Infectious diseases have complex transmission cycles, and effective public health responses require the ability to monitor outbreaks in a timely manner. Space-time statistics facilitate the discovery of disease dynamics including rate of spread and seasonal cyclic patterns, but are computationally demanding, especially for datasets of increasing size, diversity and availability. In this presentation, I will discuss high-performance computation techniques for the rapid detection of space-time patterns of vector-borne diseases in urban areas, with an application to Cali, Colombia. Three-dimensional visualization techniques will be presented to gain insight in the shape of these space-time patterns.