What is a disclaimer?

A disclaimer is a statement that denies or limits certain liabilities and warranties in a legal agreement. In Michigan, disclaimers are commonly used in contracts between two or more parties. Disclaimers can be used to limit a party’s liability, situations in which either party may not be able to fulfill their obligations, or any other situations that may arise out of the contract. For example, a disclaimer in a contract might state that the seller does not guarantee the quality or performance of a product. This means that the buyer is not guaranteed that the item will work properly or will not break. Another example would be a disclaimer stating that the seller is not responsible for any damages or losses incurred by the buyer in relation to the purchase. This would mean that the buyer would be responsible for any losses resulting from the purchase of the product. In Michigan, disclaimers are used to help protect parties in a contract from being held liable for unforeseen circumstances. While the disclaimer does not fully guarantee a party’s safety, it does limit their legal exposure. As such, it is important for parties to read and understand the terms of any contract they enter into and consider the implications of a disclaimer.

Related FAQs

What is the common law of contracts?
What is a contract of indemnity?
What is the interpretation of a contract?
What is a contract of employment?
What is the mirror-image rule?
What is the standard of care in a contract?
What are the common types of remedies available?
What is the law of privity?
What is an indemnity clause?
What is the effect of illegality in a contract?

What is a disclaimer?

Related FAQs

Related Blog Posts