IS THERE ANY MAX LIMIT FOR LIABILITY
say for e.g
contract value is rs.100/- between A & B where B is to perform the Contract
now without prejudice to any other rights of the contract like Termination , Indemnity , Arbitration etc can the LIABILITY under the contract be LIMITED TO SAY 10 / 20 % OF THE CONTRACT VALUE
yes if parties desire so, the damages for breach of contract can be fixed in the contract agreement, and such amount shall be the discretion of the parties.
Thanks for the response.
LIBBILITY CLAIM MORE THAN CONTRACT VALUE - IS IT TENABLE / LEGAL
continuing on this
my present contract is silent on any Liability limits, i.e there is NO CLAUSE ON LIABILITY
NOW say in case of any dispute , can the other party PUT A CLAIM which is more than the contarct value OR i.e the amount I am eligible to earn thru the Contarct
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