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Litigation Products Liability

Understanding NY's Economic Loss Rule

New York's Economic Loss Rule is purportedly a simple common law principle. However, its evolution and application have proven to be quite the opposite. It can significantly minimize exposure in many cases, and in some instances result in the complete dismissal of a claim.

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New York’s Economic Loss Rule is purportedly a simple common law principle. However, its evolution and application have proven to be quite the opposite. A clear understanding of this rule is essential, as it can significantly minimize exposure in many cases, and in some instances result in the complete dismissal of a claim.

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