This office lease clause is a standard condition of limitation language dealing with issues of tenant defaults in fulfilling any of the covenants of the lease.
Colorado Condition of Limitation Clause
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Multi-State
Control #:
US-OL14014
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Word;
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How to fill out Condition Of Limitation Clause?
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FAQ
Examples of exclusions from limitations of liability include but aren't limited to losses and damages resulting from breaches of confidentiality, refusal of services, willful misconduct, bodily injury, death, damage to physical property, violations of applicable laws and gross negligence.
In Colorado, the general breach of contract statute of limitation, whether the contract is oral or written, is three years. However, if a contract is for a ?liquidated debt? or for an ?unliquidated determinable amount,? it is subject to a six-year limitations period.
The court of appeals held for the first time that an ambiguous limitation of liability clause may be enforced. This stands in contrast to ambiguous exculpatory agreements, which have long been deemed unenforceable in Colorado.
Right to contribution--contract or agreement provision to indemnify or hold harmless void against public policy.
Courts should always uphold limitation-of-liability clauses, whether or not the two parties to the contract had equal bargaining power. One of the reasons that imitation-of-liability clauses are included in contracts is to allow sellers to predict the extent of their liabilities should something go wrong.
Generally, these clauses are enforceable. Parties can generally exclude their liability for certain acts or types of damages, as Linda explained.
In Colorado criminal cases, the term statute of limitations refers to the time limit in which the prosecutor is permitted to file charges against a suspect. Generally speaking, the more serious the crime, the longer prosecutors have to file charges.
In Colorado, the general breach of contract statute of limitation, whether the contract is oral or written, is three years. However, if a contract is for a ?liquidated debt? or for an ?unliquidated determinable amount,? it is subject to a six-year limitations period.
