Economic Loss Doctrine Gains Viability as Defense to Financial Claims, New Jersey Law Journal
By Iram P. Valentin and Rina Bersohn
(May 4, 2015)
New Jersey federal courts actively utilize the “economic loss doctrine” to weed out tort claims where the legal obligations at issue are established by the parties’ direct contractual relationship. See SRC Construction Corp. of Monroe v. Atlantic City Hous. Auth., 935 F. Supp. 2d 796, 800-01 (D.N.J. 2013) (where the court predicted that the New Jersey Supreme Court would not apply the doctrine to a situation in which the parties did not have a direct contractual relationship).