The Economic Loss Rule - Recently Refined or Redefined by the North Carolina Supreme Court | Ward and Smith, P.A.
To embed, copy and paste the code into your website or blog: 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 r...