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Limits on liability are one of the most common and heavily negotiated clauses in a commercial contract. If you are negotiating business terms and think to yourself ‘the limit does not exist’ (IYKYK) that’s your red flag to look at your limitation of liability clause. What is a limitation of liability
Read MoreThe notion of reciprocity is the core of contract law and this is the main feature that distinguishes a contract from a deed or a gift. Consider a situation where a person loans a sum of money to a friend, colleague or family member. The parties may informally agree on a repayment plan. If the arrangement is not documented or witnessed there is...
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