Tort law primarily addresses harm resulting from wrongs that lead to personal injury or property damage. It has clear limitations when it comes to purely economic losses, where the harm suffered is financial rather than physical. In cases of economic loss without accompanying injury or damage to other property, contract law, not tort law, is typically the avenue for seeking redress.
For example:If a poorly designed software causes a company to lose business data, leading to financial losses, the company would generally seek compensation through breach of contract rather than a tort claim, as the software has not caused physical harm or damage to other property.