Residence Faculty Of Law

To be recognized at law, the loss must involve damage to property, or mental or physical injury; pure financial loss is rarely acknowledged for the award of damages. Historically, American property law has been closely influenced by English land law, and is therefore concerned with actual property first and personal property second. It can additionally be primarily a matter of state law, and the level of interstate diversity in the law of property is much more substantial than in contract and tort. Efforts by both the American Law Institute and the Uniform Law Commission to reduce such interstate range have been spectacular failures.

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