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
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id	my-utm-ep.5974
record_format	uketd_dc
spelling	my-utm-ep.59742018-08-26T04:43:04Z Recovery of pure economic loss in construction industry 2007-07 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 http://eprints.utm.my/id/eprint/5974/ http://eprints.utm.my/id/eprint/5974/1/NgaiXiaoWeiMFAB2007.pdf application/pdf en public http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:62179 masters Universiti Teknologi Malaysia, Faculty of Built Environment Faculty of Built Environment
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
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
qualification_level	Master's degree
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
granting_institution	Universiti Teknologi Malaysia, Faculty of Built Environment
granting_department	Faculty of Built Environment
publishDate	2007
url	http://eprints.utm.my/id/eprint/5974/1/NgaiXiaoWeiMFAB2007.pdf
_version_	1747814618598735872

Recovery of pure economic loss in construction industry

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