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:

Quorum

The minimum number of members needed to be present at a meeting to make the proceedings of that meeting valid.

Substantial Portion

Refers to a significant part or quantity of something, usually in comparison to the whole.

Corporate Assets

Resources owned by a corporation that have economic value and can be used to meet debts, commitments, or investments.

Articles Of Incorporation

These are formal documents filed with a governmental body to legally document the creation of a corporation.