What is the Economic Loss Doctrine, or the Moorman Doctrine, in Illinois?

The economic loss doctrine, maintains that no plaintiff may recover under a tort of negligence solely for economic losses arising out of dissatisfied expectations. This doctrine was highlighted in the Illinois Supreme Court decision of Moorman Manufacturing Co. v. National Tank Co., 91 Ill. 2d 69 (1982), and is often referred to as the Moorman doctrine in Illinois. In Moorman, the plaintiff purchased a bolted-steel grain storage tank from defendant for use at its feed processing plant. About ten years later, a crack developed in one of the steel plates. As a result, the plaintiff filed suit against the defendant manufacturer. Count I alleged that the tank was not reasonably safe due to c

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