FAQs
What is an example of exclusion of liability?
An example of exclusion of liability is when a software company includes a clause in its end-user license agreement (EULA) stating that it is not responsible for any damages caused by the use of the software, thereby excluding itself from liability for any potential issues arising from its product.
What liability cannot be quantified?
Emotional distress and pain and suffering are examples of liabilities that cannot be easily quantified. While financial losses can be measured, emotional harm often lacks a clear monetary value, making it difficult to determine a precise amount of liability in such cases.
What is exclusion of liability in practical law?
Exclusion of liability in practical law refers to the legal mechanism where parties limit or exclude their liability for certain types of damages or losses in contracts or agreements. This is often achieved through specific clauses or provisions that outline the extent to which parties are responsible for various outcomes or breaches.