Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Why is the inclusion of a limitation of liability clause in a commercial contract considered to be an effective solution for business legal risk management?

Why is the inclusion of a limitation of liability clause in a commercial contract considered to be an effective solution for business legal risk management?

Select one:

a.It transfers risk from the business owners to the business and its customers.

b.It limits financial responsibility for damages if there is a breach of contract.

c.It creates equity because it imposes the same terms on every customer.

d.It triggers avoidance of liability in standard form commercial contracts.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Equity And Trusts Text Cases And Materials

Authors: Paul S. Davies, Graham Virgo

3rd Edition

0198821832, 978-0198821830

More Books

Students also viewed these Law questions

Question

A greater tendency to create winwin situations.

Answered: 1 week ago