Definition[]
The economic loss doctrine is
| “ | a judicially created doctrine providing that a commercial purchaser of a product cannot recover from a manufacturer under tort theories damages that are solely economic losses. When contractual expectations are frustrated because of a defect in the subject matter of a contract, a party’s remedy instead lies exclusively in contract.
The doctrine does not bar claims involving physical injury or physical harm to property, however, as those are considered proper tort claims.[1] |
” |