New Jersey remains among the minority of states enforcing a rule barring the recovery by a new business of damages for lost profits caused by a tort or a breach of contract. However, this "new business rule" applies only in New Jersey's state courts, not in diversity cases filed in the Third Circuit based on New Jersey law.
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BUSINESS LAW
An Update on the New Business Rule in N.J.
New Jersey Law Journal
January 8, 2013
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