Tag: Economic Loss Rule
Arizona Supreme Court Limits Economic Loss Rule Application
Tony Lehman – November 5, 2013 In Sullivan v. Pulte Home Corp., 306 P. 3d 1 (Ariz. 2013), the Arizona Supreme Court considered whether the economic loss rule should apply to a claim for negligent construction raised by the second purchaser of a house. The Sullivans purchased their home from the original purchaser three years after the house… Continue reading Arizona Supreme Court Limits Economic Loss Rule Application
Lenders and Post-Foreclosure Purchasers Have Standing to Make Construction Defect Claims for After-Discovered Conditions
Buck Mann – August 8, 2013 The Colorado Court of Appeals has decided a case which answers a question long in need of an answer: do banks/lenders have standing to assert construction defect claims when they receive title to a newly-constructed home following a foreclosure sale or deed-in-lieu of foreclosure? The decision was released on… Continue reading Lenders and Post-Foreclosure Purchasers Have Standing to Make Construction Defect Claims for After-Discovered Conditions
Another Exception to Fraud and Contract Don’t Mix
Christopher G. Hill – May 27, 2013 Here at Construction Law Musings, we’ve discussed the fact that, in Virginia, the “economic loss rule” generally renders claims of fraud and construction contracts like oil and water. This is true in most states, including Florida. What this means is that as a general rule where any party… Continue reading Another Exception to Fraud and Contract Don’t Mix
The Emperor’s New Economic Loss Rule
Peter C. Vilmos – March 28, 2013 For years, litigating breach of contract cases in Florida meant having to struggle with the array of cases dealing with the Economic Loss Rule. In its simplest form, the Economic Loss Rule is a judicially created principle that prohibits tort damages in a breach of contract action where… Continue reading The Emperor’s New Economic Loss Rule