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Q: what is the difference between physical loss of property and loss through liability?
A: There is a fundamental distinction between “pure economic loss” and “consequential economic loss”, as pure economic loss occurs independent of any physical damage to the person or property of the victim. [ Usually, "pure economic loss" in tort, particularly in negligence, is not recoverable as damages or otherwise.[2] It has also been suggested that it be called "commercial loss" as injuries to
person or property could be regarded as "economic" ]
Expert answered|MrG|Points 4641|
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Asked 9/13/2013 10:40:45 PM
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