A Contract That Exculpates One Party for Negligence or Other

question 53

True/False

A contract that exculpates one party for negligence or other wrongdoing will often be viewed as unconscionable.

---

Definitions:

Elastic Demands

A situation where the demand for a good or service significantly changes in response to changes in its price.

Close Substitutes

Products or services that can easily replace each other in the eyes of the consumer, offering similar benefits and functionalities.

Inelastic

A term describing a situation in which the quantity demanded or supplied of a good or service is relatively unresponsive to changes in price.

Elastic

Describes a situation in which the demand for a good or service significantly changes in response to changes in price.