Business Law: Exemption Clause

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1. An exemption is a clause in a contract that exempts or removes liability from one or both parties in certain circumstances. Exemption clauses are used frequently in business organization contract. These clauses apportion risk between the parties concerned and the law upholds them, assuming the parties negotiated them while drafting the contract

2. The two ways in which exemption clauses can be incorporated in a contract are: (1) Incorporation by notice and (2) Incorporation by signature.

3. I would first ask X if he was notified of the hotel’s policy while, he was checking in. If He was informed of a policy to secure valuables at the front desk, then he was responsible for his losses and Y had no obligation to reimburse him for …show more content…

Andréa later found out that the dresses she bought was a knock-off and not an original. She returned the dresses and requested that her money be return. Tanya refused to return the money. In the case, the misrepresentation by Tanya could be classified, as innocent misrepresentation because she believed the dresses were original. Therefore, her burden had been discharge and her representation could be classified as innocent misrepresentation. 9.
(a) (b) (c) Type of Misrepresentation Remedies Available
1 Fraudulent Rescission & damages
2 Negligent (common law) Damages only
3 Negligent (representor must show reasonable grounds to believe in the truth of the statement) Rescission & damages
4 Innocent Recession & Indemnity

10.
1. Indemnity - Compensation for wrong done, or trouble, expense or loss incurred. An undertaking usually by deed to indemnify another. An indemnity can only claimed for loss arising from the entering into the contract and not for any consequential loss, which can only be claimed as damages.

2. Damages – The pecuniary satisfaction awarded by a judge or jury in a civil action for the wrong suffered by the plaintiff. (Exemplary damages; nominal damages) Damages can be assessed either on a reliance basis or on an expectation basis.

3. Rescission – Putting a contract to an end or voiding a contract usually

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