Exploring Liability Caps and Limitations, Exclusions of Categories of Loss and Management of Process Risk
May 2007 |There is a distinction between an exclusion clause, the effect of which is to either absolve a party for the consequences of a breach of duty or to define substantively the limit of the duty by negating obligations that the law would otherwise impose, and a liability cap, the purpose of which is to limit a party's exposure up to a predetermined amount or percentage of contract value.
Partick Mead, Partner | pmead@carternewell.com
