LIMITATION OF LIABILITY
Other Names: No Special Damages • Waiver of Special Damages • No Consequential or Special Damages • Disclaimer of Consequential and Special Damages • Cap • Cap Amount • Cap on Liability • Liability Cap
Sample Clause Language:
IN NO EVENT WILL [PARTY B] BE LIABLE FOR ANY INDIRECT, PUNITIVE, SPECIAL, EXEMPLARY, INCIDENTAL OR CONSEQUENTIAL DAMAGES IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT [(INCLUDING LOSS OF BUSINESS, PROFITS, USE, DATA, OR OTHER ECONOMIC ADVANTAGE)], HOWEVER IT ARISES, WHETHER FOR BREACH OF THIS AGREEMENT OR IN TORT, EVEN IF [PARTY B] HAS BEEN PREVIOUSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.
Source: Based on Touchpoint Group Holdings Inc. (2020, April 30). Form 8-K. Retrieved from SEC EDGAR website http://www.sec.gov/edgar.shtml
Description:
Limitation of Liability clauses limit the type and/or amount of damages a party may be responsible for under the agreement. The sample clause here is a short-form version that limits Party B’s liability in terms of type (e.g., special damages).
Common Contracts with this Clause:
- Sale of Goods Agreements
- Services Agreements
- Licensing Agreements
What you'll see with Lawgood:
Four (4) Alternative Positions
- Unilateral (Long-Form)
- Unilateral (Short-Form)
- Mutual (Short-Form)
- Mutual (Long-Form)
Draft better contracts with Lawgood.