Torts: Economic Harm
The Restatement of the Law Third, Torts: Liability of Economic Harm is part of ALI’s ongoing revision of the Restatement Second of Torts. Portions of the Restatement Second have been superseded by the Restatement Third of Torts: Products Liability, Apportionment of Liability, and Liability for Physical and Emotional Harm.
“Recovery and tort for economic loss has been a growth area in American law over the last few decades. There’s been a lot of judicial commentary and a lot of scholarly commentary on when it ought to be possible to recover in tort for a pure economic loss. Our goal in this Restatement has been to capture the best insights of the commentary while staying true to where the case law has been going.” – Ward Farnsworth, Project Reporter
This Restatement covers unintentional infliction of economic loss, including professional negligence, negligent misrepresentation, negligent performance of services, and public nuisance. It also addresses fraud, breach of fiduciary duty, interference with contract, unjustifiable litigation, and civil conspiracy.
Andrea Kang Wooster | June 17, 2021 | Torts: Economic Harm
Dissenting Associate Justice Samuel Alito cites the Restatement Third of Torts: Liability for Economic Harm § 28 and Restatement Second of Torts § 876. In Nestle USA, Inc. v. Doe, No. 19-416 (June 17, 2021), six individuals from Mali who were allegedly trafficked as...
The American Law Institute | October 22, 2020 | Torts: Economic Harm
In Barclay v. Castruccio, 230 A.3d 80 (Md. 2020), the Court of Appeals of Maryland decided to recognize the tort of intentional interference with a prospective inheritance or gift, and to adopt the standards for that tort as set forth in Restatement of the Law Third,...
Ward Farnsworth, Pauline Toboulidis and Jennifer Morinigo | March 23, 2020 | Torts: Economic Harm
Restatement of the Law Third, Torts: Liability for Economic Harm, completes the fourth installment of the Restatement Third of Torts. This Restatement, for which Dean Ward Farnsworth of the University of Texas at Austin School of Law served as Reporter, covers four...
Lauren Klosinski | June 17, 2019 | Torts: Economic Harm
The California Supreme Court cited the Restatement of the Law Third, Torts: Liability for Economic Harm in its recent decision involving the issue of whether a gas company had a tort duty to guard against purely economic losses.The case, Southern California Gas...
Ward Farnsworth, Kyle D. Logue and Jennifer Morinigo | June 14, 2018 | Inside The ALI, Liability Insurance, Torts: Economic Harm
Two Restatement projects, Economic Harm Torts and Liability Insurance, were reviewed and approved for the final time by ALI membership at the 2018 Annual Meeting, marking the completion of both projects. The Reporters, subject to oversight by the Director, will now...
Pauline Toboulidis | May 21, 2018 | Torts: Economic Harm
At today’s 95th Annual Meeting, members of The American Law Institute voted to approve Tentative Draft No. 3 of Restatement of the Law Third, Torts: Liability for Economic Harm. Today’s vote marks the completion of this project. This Restatement covers the topics of...
