What are the liabilities in a contract?
Liabilities in a contract refer to the obligations that each party must fulfill. If one party fails to meet these obligations, they may be held liable for damages.
Can you give me examples of common liabilities?
Sure! Common liabilities include breach of contract, failure to deliver goods or services, and non-payment for services rendered.
What happens if someone breaches a contract?
If someone breaches a contract, the other party may seek damages, which can include compensation for losses incurred due to the breach.
How can I protect myself from liability in a contract?
To protect yourself, ensure that the contract is clear, include liability limitations, and consider obtaining insurance.
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