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Case Citations [1] (July 2020 - April 2021)

handle is hein.ali/alitorts9920 and id is 1 raw text is: TORTS 3D: LIABILITY FOR ECONOMIC HARM CHAPTER 1. UNINTENTIONAL INFLICTION OF ECONOMIC LOSS § 1. Liability for the Unintentional Infliction of Economic Loss: General Principles Cal.App.2020. Cit. in cases cit. in disc. (citing § 1 of T.D. No. 1, 2012, which is now § 1 of the Official Text) (general cite); com. (c)(1) quot. in case quot. in ftn. (quoting § 1, com. (c)(1), of T.D. No. 1, 2012, which is now § 1, com. (c)(1) of the Official Text) (general cite). Mortgagor brought a lawsuit against loan servicers and loan owner, alleging, inter alia, that defendants' negligence caused plaintiff to suffer damage to his credit score and incur numerous penalties and interest on his home loan. The trial court sustained defendants' demurrers. This court reversed in part, holding that plaintiff alleged sufficient facts establishing a claim for negligence, because defendants had a special relationship with plaintiff that imposed a duty on them to guard against causing him economic losses. The court explained that the economic-loss rule set forth by Restatement Third of Torts: Liability for Economic Harm § 1 did not bar plaintiff's claim, because there was a special relationship between the parties that created an exception to the general rule against recovery for purely economic losses, reasoning that plaintiff was an intended beneficiary of the loan-modification transaction but was harmed by defendants' negligence in carrying it out; furthermore, there were no public-policy concerns that permitting plaintiff's claim in the context of loan modifications would cause other economic-loss claims to proliferate. Weimer v. Nationstar Mortgage, LLC, 260 Cal.Rptr.3d 712, 728, 729. Vt.2020. Com. (b) quot. in ftn.; coms. (c)(1) and (d) cit. in sup.; com. (c)(2) quot. in sup.; com. (d)(2) quot. in ftn.; Rptr's Note (a) quot. in ftn. Participants in an immigrant-investor program that enabled foreign nationals to become eligible for green cards by making investments in the United States sued state agency that provided administrative services for the program in partnership with various development projects, after plaintiffs lost money investing in projects promoted by defendant that were later discovered to have been operated fraudulently. The trial court granted defendant's motion to dismiss. This court reversed in part and remanded, holding that plaintiffs made out a facial claim of negligence against defendant, and that plaintiffs' claims were not barred by the economic-loss rule. The court cited Restatement Third of Torts: Liability for Economic Harm §§ 1 and 6 in reasoning that the relationship between the parties, in which defendant recruited plaintiffs to invest their life savings in the projects by promising exceptional oversight and management of the projects, was the type of relationship that could give rise to liability for purely economic harms. Sutton v. Vermont Regional Center, 238 A.3d 608, 621, 622. § 6. Negligent Performance of Services Vt.2020. Cit. in sup. Participants in an immigrant-investor program that enabled foreign nationals to become eligible for green cards by making investments in the United States sued state agency that provided administrative services for the program in partnership with various development projects, after plaintiffs lost money investing in projects promoted by defendant that were later discovered to have been operated fraudulently. The trial court granted defendant's motion to dismiss. This court reversed in part and remanded, holding that plaintiffs made out a facial claim of negligence against defendant, and COPYRIGHT ©2021 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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