exculpatory clause

exculpatory clause. A contractual provision relieving a party from liability resulting from a negligent or wrongful act. • A will or a trust may contain an exculpatory clause purporting to immunize a fiduciary from a breach of duty; the clause may reduce the degree of care and prudence required of the fiduciary. But courts generally find that if an exculpatory clause in a will or trust seeks to confer absolute immunity, it is void as being against public policy. See EXEMPTION CLAUSE. [Cases: Contracts 114. C.J.S. Contracts § 271.]

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词条贡献者

译者Virginia，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，擅长翻译各种与私募股权融资相关的法律文件。