General knowledge
7 QUESTIONS
Q1. Which statement below is the closest definition of LoL?
A) A clause that permits parties to a contract to reduce or eliminate the potential for damages if there…
B) A clause that prevents parties to a contract to reduce or eliminate the potential for damages if there…
C) None of the above.
Q2. Limitation of Liability protects
A) The service provider or seller.
B) The customer.
C) An insurance provider.
Q3. In contracts, the LOL helps to
A) Mitigate risks to a company.
B) Caps any fees that company may need to pay to a customer if company breaches the contract
C) All of the above