CONTRACT LAW L4 - Unfair Terms & Exemption Clauses - INTRO

Question 1

What is an exemption clause? (1)

Answer 1

It is a contractual term that purports to limit or exclude liability that would otherwise attach to one of the contracting parties.

Question 2

What may the obligations affected by an exemption clause be? (3)

Answer 2

Contractual, tortious or both.

Question 3

Is it more likely for a party to limit its liability or exclude it when negotiating a contract? (1)

Answer 3

Limit it.