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 York Clause Dealing with Limitations on Use
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Multi-State
Control #:
US-OL8015
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Word;
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How to fill out Clause Dealing With Limitations On Use?
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FAQ
The short of it is that limitations of liability are generally upheld and enforceable by the courts.
Definition of Limitation of Liability In contrast to an exclusion of liability clause, a limitation of liability clause only limits your liability for certain breaches and may explicitly state a dollar amount that the liability is limited to.
A limitation clause is a constitutional provision which enables constitutionally protected rights to be partially limited, to a specified extent and for certain democratically justifiable purposes.
A limitation of liability clause (sometimes referred to simply as a liability clause) is the section in a contracted agreement that specifies the damages that one party will be obligated to provide to the other under terms and conditions stipulated in the contract.
A limitation of liability provision will limit whether someone can sue you for breaching your contract. If a court finds that it can be enforced, a limitation of liability clause can limit the amount of damages (i.e. compensation) you will be required to pay.
New York courts generally enforce limitation of liability provisions since such provisions represent ?the parties' Agreement on the allocation of the risk of economic loss in the event that the contemplated transaction is not fully executed.?4 However, even when parties limit liability but do not specifically exclude ...
A limitation clause is a constitutional provision which enables constitutionally protected rights to be partially limited, to a specified extent and for certain democratically justifiable purposes.
Limitation of liability means a contractual provision to reduce or exclude the types and amounts of liabilities one party may recover from another party relating to default or non-performance in connection with a contract.
