Author: Paul W. Norris
The Economic Loss Doctrine
Posted in Litigation
Although firmly established within New Jersey Jurisprudence, the “Economic Loss Doctrine” is often overlooked by overzealous Plaintiffs who attempt to file Tort Claims in simple Breach of Contract cases. The “Economic Loss Doctrine” provides that if the factual foundation for the Cause of Action is contractual in nature, than in that event, the Parties are foreclosed from pursuing Tort Claims which are based upon the same facts. T Continue reading
The Seller’s Disclosure Statement
Posted in Construction, Litigation, Real Estate
The completion of the Seller’s Disclosure Statement is a task that is often taken lightly by a Seller of residential real estate when they are preparing to sell their house. In fact, many individuals when faced with completing this task give it little thought and complete it in a cursory fashion. What a Seller should be aware of, however, is that any misstatement of fact, whether intentional or not may subject a Seller to liability post-closing. In the State of New Jersey a Seller of residential real estate has a duty to disclose any and all latent defects with regard to the condition of their property. A latent condition is a condition that is not otherwise observable, or in essence, hidden. Examples of latent conditions are radon contamination, underground oil tank leaks, or a history of water problems. Continue reading
