What is an economic tort?

An economic tort is a civil wrong that occurs when one party causes harm to another party’s financial interests. Economic tort claims are a common type of legal action in both Oklahoma State and federal courts. In the state of Oklahoma, economic torts are generally characterized as civil wrongs that occur due to an intentional or negligent act of one party which results in a financial loss of another party. Examples of economic torts in Oklahoma include fraud, breach of contract, interference with business interests, and conversion. In Oklahoma, fraud is an intentional act by one party to deceive another party which results in financial harm. Fraud cases can be initiated at either the Federal or State level. Breach of contract is an intentional or unintentional violation of a contractual obligation, resulting in financial harm to one of the contracting parties. Interference with business interests is any act that damages the business interests of another party, whether intentional or not. Finally, conversion is any unauthorized use of another party’s property or resources which results in financial harm. Economic torts are typically brought to civil court in Oklahoma in order to protect the financial interests of parties involved. In order to win an economic tort case, the party bringing the suit must prove that the other party acted either intentionally or negligently which resulted in financial harm. A court can then order the defendant to compensate to the plaintiff for any damage that has occurred.

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