a clause that releases a party from liability in the event of monetary or physical injury, no matter who is at fault
Provision in a contract under which one party seeks to be absolved of liability for his negligent or other wrongful acts. An example is a clause in a land sales contract providing that the buyer takes the property "as is," including defects not visible to him. Such clauses generally have only a limited effect.
A clause in a contract holding one party harmless in the event of some default.
A clause in a contract relieving one of the parties of personal responsibility or liability.
That part of a written agreement that relieves one party to the agreement of liability as a result of actions (or lack of actions) performed in the course of executing the terms of the contract. In a trust agreement, an exculpatory clause relieves the trustee of liability resulting from any act performed in good faith under the trust agreement. In a lease, the exculpatory clause relieves the landlord of liability for personal injury to tenants or damage to tenants' property.
A contractual clause that releases one party from liability in case of wrong doing by the other party involved.
The term of a mortgage giving the borrower the right simply to surrender the property to the lender as payment for the loan without personal liability to the borrower for any shortfall.
A provision in an agreement by which a party is exonerated in the event of a default.
A provision in leases and other instruments seeking to relieve one party of liability for his negligence and other acts. In residential leases such clauses are invalid, and in other leases the courts have limited the landlord's ability to escape liability for intentional acts, and for acts of affirmative negligence. Back to the Top
A provision in a mortgage allowing the borrower to surrender the property to the lender without personal liability for the loan.
Provision designed to absolve a party from liability.
A provision in a contract that relieves a party of liability.
A provision in a lease that absolves the landlord from responsibility for all damages, injuries or losses occurring on the property, including those caused by the landlord's actions. Most states have laws that void exculpatory clauses in rental agreements, which means that a court will not enforce them.
A clause in an agreement that relieves a party from all obligation for his or her acts or failure to act.
A clause in a contract that relieves a party from liability resulting from negligence or a wrongful act.
a contract clause that releases one of the parties from liability for his or her actions. (See HOLD HARMLESS)
