Economic torts are torts that provide the common law rules on liability for the infliction of pure economic loss, such as interference with economic or business relationships. This article or section does not cite its references or sources. ... This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ...
The principal torts of this type are those of passing off, injurious falsehood (or trade libel), conspiracy, inducement of breach of contract, interference with economic relations, unlawful interference with trade, and watching and besetting. Passing off is a common law tort which can be used to enforce unregistered trademark rights. ... Breach of contract is a legal concept in which a binding agreement or bargained-for exchange is not honored by one of the parties to the contract by non-performance or interference with the other partys performance. ...
Economic torts can arise in a variety of situations. For example, a business competitor may have an action in economic tort against a competitor. An employer may have an action in economic tort against an employee. An employer may sue on an economic tort against trade union officials or members who are taking part in industrial action. The examples and perspective in this article or section may not represent a worldwide view. ... Strike action (or simply strike) describes collective action undertaken by groups of workers in the form of a refusal to perform work. ...
These torts represents the common law's attempt to balance the need to protect claimants against those who inflict economic harm and the wider need to allow effective, even aggressive, competition (including competition between employees and their workers).
Tort law is distinguished from the law of contract, the law of restitution, the law of equity and the criminal law.
The law of torts therefore aims to restore the injured person to the position he or she was in before the tort was committed (the expectation or rightful position principle).
Some torts are strict liability torts, in that the plaintiff may recover by showing only that the wrong took place, and that the defendant committed the wrong — there is no need to show the defendant's state of mind or that the defendant breached a duty of due care.