What Is a Provision in a Contract That Purports to Relieve

question 49

Multiple Choice

What is a provision in a contract that purports to relieve the defendant of a duty of care he would otherwise owe to the plaintiff called?

• A) Strict liability clause
• B) Exculpatory clause
• C) Intervening cause
• D) Actual cause

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Definitions:

Estimable

Capable of being reasonably estimated or calculated, often used in the context of accounting to refer to expenses or losses.

Reasonably Possible

A term used in accounting and law to describe an outcome that, while not certain, is more than a mere possibility and should be considered or disclosed.

Merchandise Inventory

Goods that are purchased for the purpose of being sold to customers in the normal course of business.

Interest Rate

The percentage of an amount of money charged by a lender to a borrower for the use of borrowed money.