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San Diego leaders are eying a massive “green growth” initiative that includes bustling new train stations and high-speed rail to usher in a boom in dense housing construction from Chula Vista to downtown San Diego and beyond. This urban strategy is being sold as a win for the economy as well as the environment in theory, encouraging hundreds of thousands of residents in coming decades to swap fossil-fuel-burning car trips for walking, biking and riding transit. “This is an opportunity for job creation,” San Diego Mayor Todd Gloria told the Union-Tribune editorial board in January. “It’s an opportunity for meeting our climate goals.” ....
To embed, copy and paste the code into your website or blog: Recently, the North Carolina Supreme Court issued a decision impacting the application of the economic loss rule in commercial settings, particularly construction. This article provides a refresher on the economic loss rule before turning to an overview of the Court s decision and its potential impact. The economic loss rule is a legal construct designed to prohibit recovery under a tort theory of liability, like negligence, for purely economic losses that arise out of a contractual relationship. The overarching premise behind the rule is that parties to a contract are presumed to have considered and contracted for how risk and loss flowing from the contract s subject matter is to be allocated. In other words, allowing a party to a contract to pursue remedies it did not bargain for in negotiating its contract would effectively allow that party to get more than its bargained-for exchange. ....
Friday, January 22, 2021 Recently, the North Carolina Supreme Court issued a decision impacting the application of the economic loss rule in commercial settings, particularly construction. This article provides a refresher on the economic loss rule before turning to an overview of the Court s decision and its potential impact. The economic loss rule is a legal construct designed to prohibit recovery under a tort theory of liability, like negligence, for purely economic losses that arise out of a contractual relationship. The overarching premise behind the rule is that parties to a contract are presumed to have considered and contracted for how risk and loss flowing from the contract s subject matter is to be allocated. In other words, allowing a party to a contract to pursue remedies it did not bargain for in negotiating its contract would effectively allow that party to get more than its bargained-for exchange. ....