Definition of economic loss financial loss to a business or person resulting from death injury disability property damage or destruction caused by the negligent acts of a third party an economic loss represents what an . An economic profit or loss is the difference between the revenue received from the sale of an output and the opportunity cost of the inputs used in calculating economic profit opportunity costs . Economic loss is a term of tort which refers to financial loss and damage suffered by a person such as can be seen only on a balance sheet rather than as physical injury to the person or destruction of property there is a fundamental distinction between pure economic loss and consequential economic loss as pure economic loss occurs independent of any physical damage to the person or property . What is economic loss economic loss is a term used to describe circumstances when an individual or an organization loses money the term covers financial loss that is usually visible in a balance . Usually pursuant to the economic loss rule or doctrine economic losses sounding in tort particularly in negligence are not recoverable as damages or otherwise recovery is limited to an economic theory of recovery usually breach of contract or similar so damages will typically be the value of the bargain
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