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.
Delaware Condition of Limitation Clause
Category:
State:
Multi-State
Control #:
US-OL14014
Format:
Word;
PDF
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How to fill out Condition Of Limitation Clause?
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FAQ
Delaware's civil statute of limitations laws provides a two-year time limit for most cases including personal injury, libel, and fraud. Statutes of limitations on civil cases are intended to create general fairness and reliability when filing lawsuits.
If a limited liability clause is done fairly, without any malicious intent and takes into consideration the interest of all parties to the contract, then it is likely not an unfair contract term.
Delaware courts also enforce a reasonable clause limiting liability in a sales contract, provided it serves its essential purpose and is not unconscionable.
A limitation of liability clause is a clause in a contract that restricts a company's financial exposure in the event of a lawsuit or another claim. A limitation of liability clause, if found to be enforceable, can ?cap? the number of potential damages incurred.
A limitation of liability clause in a contract limits the amount of money or damages that one party can recover from another party for breaches or performance failures. In other words, the clause can put a cap on the number of damages the organization will have to pay under certain circumstances.
Think of the Terms and Conditions agreement as the ground rules for users to using your website or app. This legal agreement the sets rules and guidelines to protect users' data, prevent abuse, and protect you, as the developer of a website/mobile app, and your company from liability.
Under Delaware law, however, choice of law provisions do not apply to statutes of limitations unless expressly included. 16 Where no provision expressly includes statutes of limitations, the law of the forum applies as it is a procedural matter.
You may have limits on your liability such as "Company will not be liable for more than $200 in the event of a breach," or "Company will not be liable for more than three times the yearly subscription fee."
