In a case that invokes Hadley v. Baxendale** – the storied British Court of Exchequer case published just three years after Moby-Dick (“Call me ‘Wikipedia’ guy?”) and is a stalwart of all first year Contracts courses across the land – the Seventh Circuit reversed a multi-million dollar judgment for a furniture maker. The plaintiff in JMB Manufacturing, Inc. v. …
Tag Archives: economic loss doctrine
Fraud, Economic Loss and Contractual Integration Clauses (And More): Illinois Fed Court Provides Primer
Plaintiff purchased the defendant’s nation-wide network of auto collision centers as part of a complicated $32.5M asset purchase agreement (APA). A dispute arose when the plaintiff paid $9.5M to a paint supply company and creditor of the defendant in order to consummate the APA. The plaintiff argued that the defendant breached the APA by not …