What is an economic tort?

An economic tort is a civil wrong involving an economic or financial loss. It is a type of tort law and is classified as a type of financial compensation for a wrong done to an individual. In California, economic torts are defined as any type of intentional act that results in economic loss to an individual, such as fraud and negligence. Economic torts can include intentional harm done to a person’s financial interests and can involve fraud, intentional interference with contractual relations, conversion, theft, and negligence. Fraud is the intentional false representation of a material fact which causes someone to suffer economic loss. Intentional interference with contractual relations is an intentional act of trying to disrupt an established contractual agreement between two parties. Conversion is the unauthorized use of another person’s property and can also result in economic loss. Negligence is another type of economic tort which is an unintentional act or omission that results in economic damages caused to another individual. In California, economic torts are taken very seriously and individuals seeking to bring a claim must obey all applicable laws and present their case to the court. If a court finds that an economic tort has occurred, it may award monetary damages to the injured party to compensate for their loss.

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