Examlex
What formulas and processes are utilized to calculate various kinds of damages?
Novation
Novation is the legal process by which an existing contract is replaced with a new contract, involving the same or different parties, where the obligations of the original contract are extinguished and replaced by new obligations.
Exemption Clause
A contractual provision that seeks to limit or exclude one's liability in certain situations, often subject to legal scrutiny for fairness.
Fundamental Breach
A serious violation of a contract that allows the aggrieved party to terminate the agreement and sue for damages.
Tendered Payment
The act of offering money or payment to fulfill a debt or obligation, especially within the context of fulfilling contractual agreements.
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