Keywords: pure economic loss, defective premises, tort recovery, floodgates problem, UK, United Kingdom
Tort recovery of pure economic loss for defective premises: a comparative analysis
Pure economic loss is financial loss unconnected with physical damage to the claimant's person or property. The paper will examine the legal position in UK on recovery of pure economic loss for defective premises and will attempt to argue that the reasons for non recovery of pure economic loss are unwarranted and unjustified. The paper aims in particular to argue that as compared to other jurisdictions such as New Zealand, Canada, Australia and Singapore the courts in UK are overtly concerned about the floodgate problem and that it is timely that it revisit this realm of tort recovery.