An economic loss explainer

The economic loss doctrine is a principle developed by courts to prevent parties from bringing tort claims when their harm is purely financial and arises from a contractual relationship. Meant to preserve the distinction between contract and tort law, the doctrine ensures that contract-based remedies address financial losses tied to agreements between parties. In Wisconsin, case law has played a significant role in defining and refining the doctrine’s scope and application. 

Join Sam Wayne for The Economic Loss Doctrine to explore key Wisconsin cases and receive practical guidance for handling claims that straddle contract and tort law boundaries. You’ll begin with the Wisconsin Supreme Court case that established the doctrine as part of state law, then move on to later developments that:

• Clarified the “fraud in the inducement” and “other property” exceptions
• Extended the doctrine to apply even where there’s no direct contractual relationship
• Distinguished between contracts for goods, contracts for services, and “hybrid contracts”
• Refined the doctrine to apply to claims arising from contract performance or nonperformance 
• Explained the doctrine’s application to claims based on statutory violations
• Created exceptions for claims involving bodily injury or property damage

You’ll also discuss the doctrine’s significant impact on contract drafting and receive tips on negotiating and drafting contracts to preserve the parties’ intended remedies. 

Failure to consider the economic loss doctrine in business litigation and contractual arrangements can lead to ambiguity, amended pleadings, disputes among counsel, and motions for sanctions. Gain clarity on the doctrine’s past, present, and future implications with help from The Economic Loss Doctrine. 

The Economic Loss Doctrine 2025 ,The Economic Loss Doctrine 2025 ,The Economic Loss Doctrine 2025 ,The Economic Loss Doctrine 2025 ,The Economic Loss Doctrine 2025

An economic loss explainer

The economic loss doctrine is a principle developed by courts to prevent parties from bringing tort claims when their harm is purely financial and arises from a contractual relationship. Meant to preserve the distinction between contract and tort law, the doctrine ensures that contract-based remedies address financial losses tied to agreements between parties. In Wisconsin, case law has played a significant role in defining and refining the doctrine’s scope and application. 

Join Sam Wayne for The Economic Loss Doctrine to explore key Wisconsin cases and receive practical guidance for handling claims that straddle contract and tort law boundaries.