Types of Exclusion Clause
- True exclusion clause: The clause recognises a potential breach of contract, and then excuses liability for the breach. Alternatively, the clause is constructed in such a way it only includes reasonable care to perform duties on one of the parties.
- Limitation clause: The clause places a limit on the amount that can be claimed for a breach of contract, regardless of the actual loss.
- Time limitation: The clause states that an action for a claim must be commenced within a certain period of time or the cause of action becomes extinguished.
Read more about this topic: Exclusion Clause
Famous quotes containing the words types of, types, exclusion and/or clause:
“Science is intimately integrated with the whole social structure and cultural tradition. They mutually support one other—only in certain types of society can science flourish, and conversely without a continuous and healthy development and application of science such a society cannot function properly.”
—Talcott Parsons (1902–1979)
“Science is intimately integrated with the whole social structure and cultural tradition. They mutually support one other—only in certain types of society can science flourish, and conversely without a continuous and healthy development and application of science such a society cannot function properly.”
—Talcott Parsons (1902–1979)
“All men, in the abstract, are just and good; what hinders them, in the particular, is, the momentary predominance of the finite and individual over the general truth. The condition of our incarnation in a private self, seems to be, a perpetual tendency to prefer the private law, to obey the private impulse, to the exclusion of the law of the universal being.”
—Ralph Waldo Emerson (1803–1882)
“Long ago I added to the true old adage of “What is everybody’s business is nobody’s business,” another clause which, I think, more than any other principle has served to influence my actions in life. That is, What is nobody’s business is my business.”
—Clara Barton (1821–1912)