A contract provision stating that one of the parties shall not be liable for damages in case of a breach is called a(n)__________ clause.

Question

Quizplus · Accepted Answer

An exculpatory clause is a contract provision that relieves one party from liability for damages that result from their own wrongdoing or breach of the contract. It is also known as a release of liability or waiver of liability clause. Liquidated damages refer to a pre-determined amount that must be paid in the event of a breach. A waiver is a voluntary relinquishment of a legal right or claim, while due process refers to the legal procedures and protections to ensure fairness in a legal process.

A Contract Provision Stating That One of the Parties Shall