What is an exculpatory clause?
What will be an ideal response?
An exculpatory clause is a provision in a contract that attempts to relieve one party to the contract for liability for the consequences of his or her own negligence. Public policy generally favors holding people responsible for their own behavior. In addition, courts are concerned that a party relieved of liability for his negligence will not have the incentive to be careful to avoid injuring others. On the other hand, if no duty to the publicis involved, and the parties have freely and knowingly agreed, the exculpatory clause may be enforceable. Exculpatory clauses that seek to avoid liability for willful misconduct or fraud, however, are generally unenforceable.
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Sleepy Monk Coffee Company operates a chain of retail coffee shops and also sells its signature roasted coffee to local resorts. Which of the following accounting estimates would be most important for Sleepy Monk Coffee Company?
A) Uncollectible accounts receivable. B) Warranty claims. C) Depreciable lives for its operating assets. D) Sales returns.
Transaction-processing systems must pass which of the four following tasks?
A. Atomicity, efficiency, consistency, and durability B. Consistency, isolation, efficiency, and durability C. Atomicity, consistency, isolation, and durability D. Durability, consistency, isolation, and efficiency
A proxy card authorizes another person to vote the shareholder's shares
Indicate whether the statement is true or false
Indicate the correct form of the verb in parentheses. Diego (past tense of answer) the questions with poise and confidence