TBA Law Blog


Posted by: Stacey Shrader Joslin on Aug 2, 2021

In a unanimous opinion released today, the Tennessee Supreme Court ruled that the economic loss doctrine applies in fraud actions where the parties are sophisticated commercial entities and the claim is based solely on alleged misrepresentations or nondisclosures about the quality of the goods purchased through a contract. The economic loss doctrine states parties cannot recover under civil tort law for purely economic damages suffered under a contract and instead must look to the contract itself for remedies. In addition, the ruling addressed the application of the Tennessee Consumer Protection Act to commercial transactions. Read more about the case or access the opinion.