An Exculpatory Clause Is Also Called A(n)________ Clause

question 46

Multiple Choice

An exculpatory clause is also called a(n) ________ clause.

• A) release of liability
• B) quantum meruit
• C) esse quam videri
• D) tort reform
• E) public policy

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Definitions:

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of its net identifiable assets, representing the premium paid for the company's reputation, customer base, or brand identity.

Separate Incorporation

A legal entity distinct from its shareholders or owners, recognized as such by law and capable of rights, privileges, and liabilities.

Parent Company

A company that holds sufficient shares in another business to dictate its management and operations through the power to influence or choose its board of directors.