little question on economic loss - law04
hey, just wanted to know if 'negligent act' is the same as 'consequential economic loss', if it's not can someone explain please. I do not get this at all!!! 
Not at all.
Negligent act is an act or omission that cause the injury or loss.
Cosequential economic loss is financial loss as a result of a negligent act, indirectly but within the contemplation of the parties (expectation or reliance).
For example, your negligent act cause the failure of a machine. You are liable for the cost of repair. Now, if this causes the production
line to shut down, there will be loss of production as a consequnce of machine breakdown, you may be liable (not always) for the financial loss of production.
Negligent act is an act or omission that cause the injury or loss.
Cosequential economic loss is financial loss as a result of a negligent act, indirectly but within the contemplation of the parties (expectation or reliance).
For example, your negligent act cause the failure of a machine. You are liable for the cost of repair. Now, if this causes the production
line to shut down, there will be loss of production as a consequnce of machine breakdown, you may be liable (not always) for the financial loss of production.
(edited 11 years ago)
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