An Exculpatory Clause Is a Provision in a Contract That

question 33

True/False

An exculpatory clause is a provision in a contract that purports to relieve one of the parties from tort liability.

---

Definitions:

Market Outcomes

The results of all the buying and selling activities in a particular market.

Price Floor

A government-imposed minimum price for a good or service, aimed at preventing prices from falling too low.

Government Surplus

The situation where government revenues exceed its expenditures during a specific period.

Total Amount

The complete sum or quantity of something.