The economic loss doctrine bars a plaintiff from recovering certain money damages under a tort theory (e.g. negligence, products liability, property damage, etc.) where a contract defines his relationship with a defendant. “Economic loss” means (i) damages for inadequate value, (ii) costs of repair and replacement of the defective product, (iii) loss of profits (without …
Tag Archives: consumer fraud
Law School Grads’ Fraud Suit Dismissal Against Chicago Law School Upheld (Part I of II)
Several former law students sued their alma mater (DePaul) under consumer fraud and common law fraud theories when their job prospects weren’t as promising and their salaries not as high as they were led to believe. In Phillips v. DePaul University, 2014 IL App (1st) 122817, the plaintiffs claimed they relied on DePaul’s published job …
Trump Tower Condo Buyer’s Bait-and-Switch Claim Defeated – Seventh Circuit
The Seventh Circuit recently affirmed the District Court’s trial verdict in favor of some Trump-controlled entities in a consumer fraud suit filed by a purchaser of some Trump Tower condominium units. In Goldberg v. 401 North Wabash Investor, LLC, 2014 WL 2579939 (7th Cir. 2014), an eighty-something real estate investor sued on a bait-and-switch theory after a condominium …
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