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A number of states have passed caps on non-economic and punitive damage awards in civil cases. The conventional wisdom is that the passage of these caps is driven by "out-of-control" jury awards that need to be reigned in. However, it could be the case that voters harboring anti-litigation,...
Persistent link: https://www.econbiz.de/10014210468
Though its seeds may have been planted long before, the economic loss rule in products liability tort law emerged in full force at the very same moment as the doctrine of strict products liability in the mid-1960s. This moment, fueled by the fall of privity and the rise of implied warranty...
Persistent link: https://www.econbiz.de/10012994004
This article describes and evaluates from a comparative perspective the approach to tort liability for pure economic loss adopted in the Restatement (Third) Torts: Liability for Economic Harm. The analysis highlights three fundamental issues: whether a claim in tort can arise concurrently with a...
Persistent link: https://www.econbiz.de/10012933968
Data security breach cases are fertile ground to explore the impact of the economic loss rule and to challenge the conceptual underpinnings of this judge-made doctrine. The extent to which the economic loss rule serves as a formidable barrier to credit card data security breach cases depends...
Persistent link: https://www.econbiz.de/10012950488
Persistent link: https://www.econbiz.de/10012851216
This chapter — to be included in Research Handbook on the Economics of Torts (Arlen ed., Kluwer, forthcoming 2012) — assesses economic rationales for punitive damages in light of contemporary empirics and doctrine. The primary economic rationale for supra-compensatory damages is optimal...
Persistent link: https://www.econbiz.de/10014173811
A subtle shift has taken place in the mechanics of preemption, the doctrine that determines when federal law displaces state law. In the past, Congress was the leading actor, and courts and commentators focused almost exclusively on the precise wording of its statutory directives as a clue to...
Persistent link: https://www.econbiz.de/10014182948
Amazon’s e-commerce business, which offers a platform for third-party vendors, defies conventional categorization for products liability purposes. Professor Marshall Shapo’s conception of “tort law as a cultural mirror” sheds light on how products liability law has evolved so as to hold...
Persistent link: https://www.econbiz.de/10014092061
The Exxon Valdez litigation marathon - a protracted, two-decade-long battle over the propriety and constitutionality of the jury's $5 billion punitive damages award - provides a window into the past, present, and future of punitive damages. Acting akin to a common law court under federal...
Persistent link: https://www.econbiz.de/10013070017
Conventional wisdom holds that the punitive damages class action is susceptible not only to doctrinal restraints imposed on class actions but also to constitutional due process limitations placed on punitive damages. Thus, it would seem that the prospects for punitive damages classes are even...
Persistent link: https://www.econbiz.de/10013075152