(a)In general
A party to a Y2K action making a tort claim, other than a claim of intentional tort arising independent of a contract, may not recover damages for economic loss unless—
(1)the recovery of such losses is provided for in a contract to which the party seeking to recover such losses is a party; or
(2)such losses result directly from damage to tangible personal or real property caused by the Y2K failure involved in the action (other than damage to property that is the subject of the contract between the parties to the Y2K action or, in the event there is no contract between the parties, other than damage caused only to the property that experienced the Y2K failure),
and such damages are permitted under applicable Federal or State law.
(b)Economic loss
For purposes of this sect
Free access — add to your briefcase to read the full text and ask questions with AI
(a) In general
A party to a Y2K action making a tort claim, other than a claim of intentional tort arising independent of a contract, may not recover damages for economic loss unless—
(1) the recovery of such losses is provided for in a contract to which the party seeking to recover such losses is a party; or
(2) such losses result directly from damage to tangible personal or real property caused by the Y2K failure involved in the action (other than damage to property that is the subject of the contract between the parties to the Y2K action or, in the event there is no contract between the parties, other than damage caused only to the property that experienced the Y2K failure),
and such damages are permitted under applicable Federal or State law.
(b) Economic loss
For purposes of this section only, and except as otherwise specifically provided in a valid and enforceable written contract between the plaintiff and the defendant in a Y2K action, the term "economic loss" means amounts awarded to compensate an injured party for any loss, and includes amounts awarded for damages such as—
(1) lost profits or sales;
(2) business interruption;
(3) losses indirectly suffered as a result of the defendant's wrongful act or omission;
(4) losses that arise because of the claims of third parties;
(5) losses that must be pled as special damages; and
(6) consequential damages (as defined in the Uniform Commercial Code or analogous State commercial law).
(c) Certain other actions
A person liable for damages, whether by settlement or judgment, in a civil action to which this chapter does not apply because of section
6603(c) of this title whose liability, in whole or in part, is the result of a Y2K failure may, notwithstanding any other provision of this chapter, pursue any remedy otherwise available under Federal or State law against the person responsible for that Y2K failure to the extent of recovering the amount of those damages.