contra proferentem

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Overview page. Subjects: Economics — Law.

A clause in a contract that reduces potential liability. For instance, a liquidator of a company may disclaim its lease to avoid liability for the rent.

See overview in Oxford Index

exemption clause

Overview page. Subjects: Law.

A term in a contract purporting to exclude or restrict the liability for breach of obligation of one of the parties in specified circumstances. The courts do not regard exemption clauses...

See overview in Oxford Index