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Authorized Version Australian Consumer Law and Fair Trading Regulations 2012 S.R. No. 62/2012TABLE OF PROVISIONS Regulation 1 2 3 4 5 6 7 8 9PageObjectives Authorizing provision Commencement Revocations
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Limitation of liability refers to a legal clause that limits the amount of damages a party can be held liable for in a contract or agreement.
The party responsible for filing a limitation of liability clause in a contract or agreement is typically the party seeking to limit their liability.
Limitation of liability clauses should be carefully drafted by legal professionals to ensure they effectively limit liability in accordance with applicable laws.
The purpose of a limitation of liability clause is to protect parties from excessive financial risk by limiting the damages they may be held accountable for.
The limitation of liability clause should clearly outline the types of damages that are limited, the maximum amount of liability, and any exclusions or exceptions.
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