Terms Used In South Carolina Code 15-3-220

  • Economic loss: means any damage for breach of contract or breach of warranty recognized under South Carolina law. See South Carolina Code 15-3-230
It is the intent of the South Carolina General Assembly that this article provide persons engaged in commerce in South Carolina, who suffer economic loss as a result of a Year 2000 problem, the opportunity to recover and be made whole for that economic loss while providing persons responsible for the Year 2000 problem a safe harbor from unlimited liability. This article is intended to be in addition to and supplement those protections offered by the federal Year 2000 Information and Readiness Disclosure Act.