What is an economic tort?

An economic tort is a type of harmful act that causes financial damage to an individual or business. It can also be referred to as a business tort. In Nebraska, economic torts are governed by a set of laws known as Art Law, which have been in place since 1890. Economic torts can be anything from intentional interference with a contract to negligence resulting in financial loss. It also includes malicious prosecution, defamation, fraud, and interference in obtaining business. Examples of economic torts include breach of contract, with damages for the breach or expenses incurred as a result, or the use of an unlawful restraint of trade. A common example would be if an individual or company were to make false and disparaging remarks about a business or product, resulting in a decrease in the business’s profits. In order to prove an economic tort occurred, a party must usually show three elements: harm to an individual or business, a wrongful act which caused the harm, and that the wrongful act was intentional or negligent. In Nebraska, the court always considers if the wrongful act was committed with malicious intent. It’s important to note that an economic tort is different from a crime. While the affected party can seek monetary compensation through a civil lawsuit, a crime would be handled through the criminal justice system. In Nebraska, it’s important to understand the Art Law pertaining to economic torts in order to make sure that you or your business are not taken advantage of.

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