Gain an understanding of the limitation of liability that should not be overseen when signing contracts.
Some parties sign contracts without reviewing or thinking about the limitation of liability provisions. Other parties recognize that a limitation of liability can be a very important provision, but they have trouble effectively drafting and negotiating terms that are understandable, agreeable, and enforceable. This material will help any party on either side of a limitation of liability. It will provide tools for thinking about a fair allocation of risk, discussing it with the other side, and drafting clear and valid language to accomplish what both parties intend. This content will also include numerous sample provisions and explain several court decisions on the interpretation and enforceability of limitations of liability.
Drafting and Negotiating Limitation of Liability Provisions
‚Ä¢ How to Limit the Type of Liability
‚Ä¢ How to Limit the Amount of Liability
‚Ä¢ What to Consider Excluding
‚Ä¢ Where and When to Use
‚Ä¢ Drafting Tips
Challenges to Enforceability
‚Ä¢ Exculpation, Waiver, or Release
‚Ä¢ Failure of Essential Purpose
‚Ä¢ Case Examples
Relationship With Indemnification and Insurance Provisions
‚Ä¢ How Indemnification and Limitation of Liability Can Affect Each Other
‚Ä¢ How Insurance Can Be a Limitation of Liability
‚Ä¢ Need to Understand Insurance Requirements
Kenneth M. Gorenberg with Barnes & Thornburg LLP
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,NALA ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.