Pure Economic Loss Compensation

Pure economic loss is a financial or pecuniary loss which is not causally consequent upon physical injury to the victim's own person or property; or is a harm suffered in absence of the infringement of a legally protected right or interest. Pure economic loss widely exists in the social life though it is not a statutory concept. In EU and US, the courts have developed into a wealth of mode of rules for pure economic loss in their own legal system. Notwithstanding there is not a consistent solution path, we can find some consistent rational factors in realizing and controlling the liability of compensation for pure economic loss. The economic relationship and the will within it are considered to realize the liability of compensation in some countries'legal practice. Meanwhile, it provides a special perspective on reflection and reconstruction on the liability system for tort and contract in the problem of compensation for pure economic loss. With the development of economy and diversity of social life in our country, the problem of compensation for pure economic loss will be significant and prominent. It is worthy to discuss in our future civil code that, how to allocate the compensation in the accountability system properly and how to coordinate the relationship between tort and contract.