Corporate Legal Counsel Interview Questions and Answers

Limitation of liability clause is included to cap the maximum amount of damages that can be claimed.

• Limitation of liability clause is a common provision in contracts that caps the maximum amount of damages that can be claimed.

• It is included to limit the potential liability of the party in case of breach of contract or other legal claims.

• The damage provision, on the other hand, specifies the types of damages that can be claimed and the circumstances under which they can be cla...read more

Exceptions to limitation of liability in corporate law

• Fraudulent conduct

• Gross negligence

• Intentional misconduct

• Breach of fiduciary duty

• Environmental damage

• Personal injury or death

• Violation of securities laws

• Unlawful dividends or stock purchases

• Failure to pay taxes