This office lease form is a clause found in old buildings in the Wall Street area of Manhattan dealing with limitations on use stating that the tenant shall use and occupy the premises for the permitted uses, and for no other purpose.
New Jersey Clause Dealing with Limitations on Use
Category:
State:
Multi-State
Control #:
US-OL8015
Format:
Word;
PDF
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How to fill out Clause Dealing With Limitations On Use?
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FAQ
While limitation of liability clauses seek to limit the types of losses that can be recovered or the remedies that are available, exclusion of liability clauses explicitly exclude liability. These types of clauses are governed by complex legislation.
Limitation clauses are a type of exemption clause that limits a party's liability for something. For example, parties may use a limitation clause to limit the amount of money they're responsible for paying in damages if certain events occur, like a breach of contract.
An "exclusion of liability" clause does just what it sounds like: it excludes all of your liability for certain events or consequences. It anticipates that there will be a breach of contract, and then excludes all liability for that breach.
An exclusion clause is a clause that excludes or restricts liability. Therefore, it is a clause under which a party seeks to exclude or limit its liability for non-performance of the contract. For example, such a clause may set a monetary cap on liability or restrict or exclude the rules of procedure or evidence.
An example of such a clause would state that the party would not be liable for an amount greater than the purchase price if the goods are defective.
What is a limitation of liability clause in a contract? A limitation of liability clause in a business-to-business (B2B) contract is a clause that limits the amount of damages a business must pay if a legal claim is brought.
The parties agree that this Agreement shall not be proffered by either party in another jurisdiction as evidence of any concession or as a waiver of any position taken by the other party in that jurisdiction or for any other purpose.
Exclusion and Limitation Clauses. As their name suggests, exclusion clauses seek to exclude specific types of liability from the contract. Limitation clauses seek to impose limitations and caps on liability, either for specific types of losses or as an overall cap on liability.
