Results are out! Find what you need...fast. Get quick advice or join the chat
Hey! Sign in to get help with your study questionsNew here? Join for free to post

little question on economic loss - law04

Announcements Posted on
    • Thread Starter
    • 1 follower
    Offline

    ReputationRep:
    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!!! :confused::confused:
    • 2 followers
    Offline

    ReputationRep:
    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.

Reply

Submit reply

Register

Thanks for posting! You just need to create an account in order to submit the post
  1. this can't be left blank
    that username has been taken, please choose another Forgotten your password?
  2. this can't be left blank
    this email is already registered. Forgotten your password?
  3. this can't be left blank

    6 characters or longer with both numbers and letters is safer

  4. this can't be left empty
    your full birthday is required
  1. By joining you agree to our Ts and Cs, privacy policy and site rules

  2. Slide to join now Processing…

Updated: May 16, 2012
New on TSR

Halloween 2014

Spooky tales from this year's fright night

Article updates
Reputation gems:
You get these gems as you gain rep from other members for making good contributions and giving helpful advice.