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The three main types of exclusion clauses include: those which exclude liability altogether; those which limit a party’s liability to a specific sum of money; and those which restrict the liability subject to certain preconditions.
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Victoria University Graduate School of Business Case Study Assignment Exclusion Clauses BLO 5537 Business Law Lecturer: Dr Michael Longo Compiled by: N. C. J. Fernandes ID : 3762112 TABLE OF CONTENTS Introduction ............................................................................... 3 Incorporating An Exclusion ................................................................ 3 Interpretation Of An Exclusion ............................................................ 4 Court Decisions .............................................................................. 6 Statute Laws .................................................................................. 8 Contradictions ................................................................................ 10 Conclusion .................................................................................... 11 References ................................................................................... 14 INTRODUCTION In the world of contracts, not all people are ready to accept full contractual responsibility in the event of a breach on their part. Thus 'exclusion' clauses are commonly inserted to reduce the party's law liabilities. A party might, for example, wish to make it clear that some of the implied statutory terms are not to be part of the contract, or that it's liability in damages are not to exceed a prescribed value. These clauses may provide a defense to an action in breach; or define the intended obligations of the party. The freedom of contract makes these clauses perfectly legitimate under applicable conditions. It also allows for...
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