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Legal liability: theoretical and comparative analysis of pure economic loss
Takáčová, Dominika ; Kühn, Zdeněk (advisor) ; Beran, Karel (referee)
LEGAL LIABILITY: THEORETICAL AND COMPARATIVE ANALYSIS OF PURE ECONOMIC LOSS The purpose of my thesis is to introduce the concept of pure economic loss and its setting in the jurisdictions of France, England, Germany and the Czech Republic. The comparative study of pure economic loss reveals that granting compensation for economic loss frequently interferes with the economic loss rule (or exclusionary rule), which states that a plaintiff can not recover damages for a pure financial loss. Legal doctrines provide little insight as to why liability should, or should not, be denied. On the other hand, economic models of liability provide some valuable guidance for classifying various categories of economic loss, and identifying cases in which denial of recovery for economic loss would lead to inefficient outcomes. A law and economics analysis shows that a key factor in determining the optimal scope of the economic loss rule is in the relationship between pure economic loss and social loss. Economic loss should be compensable in torts only to the extent that it corresponds to socially relevant loss. A plaintiff cannot recover damages for a purely private economic loss. Our hypothesis is that, although not formally adopting this economic criterion, European courts are attentive to efficiency...

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