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  2. Pure economic loss - Wikipedia

    en.wikipedia.org/wiki/Pure_economic_loss

    However, the courts have interpreted BGB provisions imposing liability for harms caused by actions contrary to public policy or statute to allow for pure economic loss damages. [25] Contractual liability for pure economic loss is recognized in German law. As a result, German courts have often turned to a contract theory to impose liability. [26]

  3. Damages - Wikipedia

    en.wikipedia.org/wiki/Damages

    Special damages compensate the claimant for the quantifiable monetary losses he has suffered. [13] For example, extra costs, repair or replacement of damaged property, lost earnings (both historically and in the future), loss of irreplaceable items, additional domestic costs, and so on. [14] They are seen in both personal and commercial actions.

  4. Pure economic loss in English law - Wikipedia

    en.wikipedia.org/wiki/Pure_economic_loss_in...

    Recovery for pure economic loss in English law, arising from negligence, has traditionally been limited. Notably, recovery for losses that are "purely economic" arise under the Fatal Accidents Act 1976; and for negligent misstatements, as stated in Hedley Byrne v. Heller. Economic loss generally refers to financial detriment that can be seen on ...

  5. List of disasters by cost - Wikipedia

    en.wikipedia.org/wiki/List_of_disasters_by_cost

    For example, the 2004 Indian Ocean earthquake and tsunami, with a death toll of around 230,000 people, cost a 'mere' $15 billion, [1] whereas in the Deepwater Horizon oil spill, in which 11 people died, the damage was six times higher. The most expensive disaster in human history is the Chernobyl disaster, costing an estimated $700 billion. [2]

  6. Hedonic damages - Wikipedia

    en.wikipedia.org/wiki/Hedonic_damages

    Hedonic damages is a legal term that first emerged in 1985 in the research of Stan V. Smith, who was a PhD student in economics at the University of Chicago. The term refers to damages for loss of enjoyment of life, the intangible value of life, as distinct from the human capital value or lost earnings value.

  7. Economic Shocks: Definition and Examples - AOL

    www.aol.com/news/economic-shocks-definition...

    An economic shock, also known as a macroeconomic shock, is any unexpected event that has a large-scale, unexpected impact on the economy. Many, but not all, economists also say that a shock has to ...

  8. Economic torts in English law - Wikipedia

    en.wikipedia.org/wiki/Economic_torts_in_English_law

    Economic torts protect people from interference with their trade or business. The area includes the doctrine of restraint of trade and has largely been submerged in the twentieth century by statutory interventions on collective labour law, modern antitrust or competition law, and certain laws governing intellectual property, particularly unfair competition law.

  9. Economic torts - Wikipedia

    en.wikipedia.org/wiki/Economic_torts

    Economic torts are tortious interference actions designed to protect trade or business. The area includes the doctrine of restraint of trade and, particularly in the United Kingdom, has largely been submerged in the twentieth century by statutory interventions on collective labour law and modern competition law, and certain laws governing intellectual property, particularly unfair competition law.