This office lease form is a clause found in old buildings in the Wall Street area of Manhattan dealing with limitations on use stating that the tenant shall use and occupy the premises for the permitted uses, and for no other purpose.
Clause Dealing with Limitations on Use
Category:
State:
Multi-State
Control #:
US-OL8015
Format:
Word;
PDF
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FAQ
A limitation of liability clause (sometimes referred to simply as a liability clause) is the section in a contracted agreement that specifies the damages that one party will be obligated to provide to the other under terms and conditions stipulated in the contract.
A limitation clause, also called a limitation of liability clause, is a stipulation in an agreement that helps ensure that a company is not held liable for more than they agreed to be responsible for.
To Benefit from a Limit of Liability, You Have to Breach That doesn't mean the limit of liability does the indemnitor no good. It can take advantage of the limit, but only if it breaches the contract. If it refuses its indemnity obligations, the limit of liability restricts the other party's damages for that breach.
Limitation of liability clauses are a useful way of balancing the risk between parties to a commercial contract. The parties can seek to limit their liability under the contract in a number of ways, often by excluding liability for certain types of loss or by putting a financial cap on liability for such losses.
In this article, "the limitation of rights" refers to situations in which laws or actions, after the commencement of the Constitution, affect the conduct and interests protected by the constitutional rights. Constitutionally valid limitations must comply with all of the requirements imposed by the Constitution.
A limitation of liability clause is a provision in a contract that limits the amount of exposure a company faces in the event a lawsuit is filed or another claim is made. If found to be enforceable, a limitation of liability clause can "cap" the amount of potential damages to which a company is exposed.
This means that a limitation of a human right may be considered lawful.A person's human rights can be limited if: The limitation applies to all people and not just one or a group of people. There is a good reason to limit the right and the limitation can reasonably be justified in society.
A limitation clause is where a party to the contract seeks to limit his liability for certain breaches of the contract. An exemption clause is the term used where either an exclusion or limitation clause has been upheld by the court.
