Research On The System Of Compensation Of The Pure Economic Loss

Pure economic loss is a hot issue of legal research in foreign. It does not depend onthe physical damage to person and property. There is also an argument about whetherto protect the pure economic interests as property right. After years of discussion,developed countries such as Britain and the United States find some useful solutionsand basic principle to deal with pure economic loss. However, it is still an unfamiliarconcept to our country. Discussion only arose about ten years ago, which is lack ofscale and detailed research. The judges notice it is hard to find consistent lawapplicable standards. They have to rely on the principles like fairness and justice andso on. In this article, I focus on several basic aspects of pure economic loss, hoping toget some useful tips for the construction of the economic loss compensation system ofour country.Literature study and comparative analysis are mostly used methods in this article.The concept and characteristics of pure economic loss are the first issues to beintroduced. In this foundation, this article talked about the comparative analysis offoreign legal system of pure economic loss. In these issues, the type of pure economicloss is emphasized mostly. Finally I analyze the current Chinese legislativeregulations and several typical judicial decisions about pure economic loss, and putsforward ideas of pure economic loss compensation system that can be used in thefuture of our country. In addition to the preface, this article altogether is divided intofour chapters. The first chapter expounds the concept and characteristic of pure economic lossand the influencing factors of compensation. Except for the Swedish, pure economicloss has not been enacted law expressly provided various countries. A consistentexpression of pure economic loss doesn’t exist although lots of researchers tried hardto give one. It has characteristics such as independence, economy and uncertainty.These characteristics determine the possible negative results such as overload of thevictim. The lawmakers have to take into consideration the rejection to compensationpolicies.In the second chapter, I compare the different role between the traditional contractlaw and tort law. The idea that contract law provides protection to the interests makesthe compensation to pure economic loss on contract law no problem at all. But in themodern economic activities, there are no contract relationships between the offenderand the victim in quite number of cases. The tort law has to be considered in thesesituations.The third chapter is the comparison research, in which I chose British, America,German and French as objects. Britain and the United States take almost the sameway to solve the problem. They all apply the principle of rejecting compensation atthe first beginning. Germany and France show almost two different roads to this issue.In the last chapter, I discuss the law system that should be established in Chinesecivil law and give the suggestions of my own. The general article of law in our tortlaw does not deny the compensation to the pure economic law.