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Recovery of pure economic loss in construction industry

Pure economic loss is financial loss unaccompanied by damage or injury other than the defective building itself. It was formerly thought to be trite law that liability in tort did not extend to pure economic loss, without the attendant of physical damage. Hence the non-recovery would leave the entir...

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Main Author: Ngai, Xiao-Wei
Format: Thesis
Language:English
Published: 2007
Subjects:
HG Finance
K Law (General)
Online Access:http://eprints.utm.my/id/eprint/5974/1/NgaiXiaoWeiMFAB2007.pdf
http://eprints.utm.my/id/eprint/5974/
http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:62179
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spelling my.utm.59742018-08-26T04:43:04Z http://eprints.utm.my/id/eprint/5974/ Recovery of pure economic loss in construction industry Ngai, Xiao-Wei HG Finance K Law (General) Pure economic loss is financial loss unaccompanied by damage or injury other than the defective building itself. It was formerly thought to be trite law that liability in tort did not extend to pure economic loss, without the attendant of physical damage. Hence the non-recovery would leave the entire group of first and subsequent purchasers (especially the dwelling houses owners) with no legal remedy against the errant builders, architects, engineers and the local authorities, in tort. It is arguable that the disallowance has resulted in unfair justice. However the disallowance does not find favour in other common law jurisdictions, in particular Canada, Australia and New Zealand, that have departed from the United Kingdom position in this area of law. Malaysia seems to have adopted the English policy in this issue. However, recent court decisions in other common law jurisdictions seemed to indicate that there was a concerted effort to rethink the legal reasons behind allowing the recovery of pure economic loss. Therefore this study intends to identify the legal reasons for allowing recovery of pure economic loss, in relation to the positions adopted by the courts in Canada, Australia and New Zealand. This project was carried out mainly by analysing leading cases reported in law journals in those countries. The findings showed that there were 2 legal reasons adopted by Canada and New Zealand and 3 legal reasons adopted by the Australian courts in allowing the recovery. However the courts have also set out limitation to the application of these reasons. 2007-07 Thesis NonPeerReviewed application/pdf en http://eprints.utm.my/id/eprint/5974/1/NgaiXiaoWeiMFAB2007.pdf Ngai, Xiao-Wei (2007) Recovery of pure economic loss in construction industry. Masters thesis, Universiti Teknologi Malaysia, Faculty of Built Environment. http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:62179
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
language English
topic HG Finance
K Law (General)
spellingShingle HG Finance
K Law (General)
Ngai, Xiao-Wei
Recovery of pure economic loss in construction industry
description Pure economic loss is financial loss unaccompanied by damage or injury other than the defective building itself. It was formerly thought to be trite law that liability in tort did not extend to pure economic loss, without the attendant of physical damage. Hence the non-recovery would leave the entire group of first and subsequent purchasers (especially the dwelling houses owners) with no legal remedy against the errant builders, architects, engineers and the local authorities, in tort. It is arguable that the disallowance has resulted in unfair justice. However the disallowance does not find favour in other common law jurisdictions, in particular Canada, Australia and New Zealand, that have departed from the United Kingdom position in this area of law. Malaysia seems to have adopted the English policy in this issue. However, recent court decisions in other common law jurisdictions seemed to indicate that there was a concerted effort to rethink the legal reasons behind allowing the recovery of pure economic loss. Therefore this study intends to identify the legal reasons for allowing recovery of pure economic loss, in relation to the positions adopted by the courts in Canada, Australia and New Zealand. This project was carried out mainly by analysing leading cases reported in law journals in those countries. The findings showed that there were 2 legal reasons adopted by Canada and New Zealand and 3 legal reasons adopted by the Australian courts in allowing the recovery. However the courts have also set out limitation to the application of these reasons.
format Thesis
author Ngai, Xiao-Wei
author_facet Ngai, Xiao-Wei
author_sort Ngai, Xiao-Wei
title Recovery of pure economic loss in construction industry
title_short Recovery of pure economic loss in construction industry
title_full Recovery of pure economic loss in construction industry
title_fullStr Recovery of pure economic loss in construction industry
title_full_unstemmed Recovery of pure economic loss in construction industry
title_sort recovery of pure economic loss in construction industry
publishDate 2007
url http://eprints.utm.my/id/eprint/5974/1/NgaiXiaoWeiMFAB2007.pdf
http://eprints.utm.my/id/eprint/5974/
http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:62179
_version_ 1643644448290111488
score 13.211869

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