186) This is fitting, for the crux of the usual contention that class waivers are unconscionable under applicable state contract law (187) is a permutation of a cost-based argument--namely, that the underlying claims are economically viable only in the aggregate, such that the class waiver functions as an exculpatory clause
An overbroad exculpatory clause
may be stricken by the court, thus defeating the original intent of the settlor or testator.
Why is the exculpatory clause
incompatible with the principles of ethical research?
In cases where a ban on class actions serves as a corporate exculpatory clause
, a number of courts have held that they are unenforceable because either they are unconscionable or they violate a state's public policy by undermining state consumer protection or civil rights statutes.
In a lease, the exculpatory clause
relieves the landlord of liability for personal injury to tenants or damage to tenants' property.
1011 relating to the enforceability of an exculpatory clause
drafted or caused to be drafted by the trustee.
uncertainty pervades as to how the exculpatory clause
Although exculpatory clauses
may help certain trustees avoid liability for a breach of trust, it's unlikely that an exculpatory clause
will avoid the removal of a negligent trustee.
The term waiver is synonymous with release, disclaimer, exculpatory clause
or exemption clause.
In internal control review engagements, accountants should also omit an internal control weakness section of the exculpatory clause
The court held that the release's exculpatory clause
was void because it violated public policy (as opposed to a particular statute).
The cost of working with an institutional fiduciary is often a broad exculpatory clause
(36) or authorization for the trustee to use the trust's corpus to defend itself in litigation.