Which of the Following Statements Concerning a Disclaimer Is Not

question 31

Multiple Choice

Which of the following statements concerning a disclaimer is not true?

• A)A disclaimer is an exemption clause.
• B)A disclaimer is an exclusion clause.
• C)A disclaimer is a statement that one of the parties to the contract will not be liable for the consequences of a failure to perform their obligations.
• D)In Thornton v Shoe Lane Parking Ltd [1971] 2 QB 163 the court held a disclaimer to be effective where it was stated in small print at the bottom of a car park entry ticket issued by an automatic machine.

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Definitions:

Total Variable Costs

The sum of expenses that vary directly with the level of production or sales volume.

Marginal Cost

The amount of money needed to create an additional unit of a product or service.

Average Total Costs

The total costs of production (fixed and variable) divided by the quantity of output produced.

Total Fixed Costs

The sum of all costs that do not change with the level of production or services provided, such as rent and salaries.