Whether a Contract's Limitation-Of-Liability Clause Will Be Enforced Depends on the Type

question 17

True/False

Whether a contract's limitation-of-liability clause will be enforced depends on the type of breach that the clause excuses.

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Definitions:

High-value Bidders

Individuals or entities willing to offer significantly higher prices in auctions, typically due to the perceived value of the item or contract.

Low-value Bidders

Participants in an auction or competitive process who offer significantly lower bids compared to others.

Bid-rigging Cartel

A group of firms that illegally coordinate their bids to control market prices and eliminate competition in auctions or tender processes.

Winning Bid

The highest offer made in an auction that secures the purchase of the item or service.