IN LAYMAN’S TERMS EXPLAIN THE LIMITATION OF OUR LIABILITY; YOUR RELEASE WITHIN T
ID: 381997 • Letter: I
Question
IN LAYMAN’S TERMS EXPLAIN THE LIMITATION OF OUR LIABILITY; YOUR RELEASE WITHIN THIS RENTAL AGREEMENT
RENTAL AGREEMENT
LIMITATION OF OUR LIABILITY; YOUR RELEASE
4.1
We are not responsible for and you release us from any liability, loss or damage, whether to property or injury to persons from any cause (“loss”) including without limitations, our active or passive acts, omissions, or negligence, unless the loss is directly caused by our intentional or reckless conduct. To the extent permitted by New York law, our liability for loss from any cause will not exceed a total of $5000.
4.2
To the fullest extent permitted by, you are responsible for, you release us from, and you agreed to indemnify us against any lost in anyway related to the rental agreement, your space or the facility, including injury to or lost by your visitors or invitees, and any lost that could have been insured.
4.3
You waive any right for any insurance carrier to be reimbursed by us for any claim it pays on your behalf (waiver or subordination)
4.4
You waive any claim that you do not make within 12 months from the date it arises. You understand that the law may otherwise afford you a longer period in which to bring claims, and you are giving up that right by agreeing to this waiver.
4.5
Even if climate controlled, the temperature and humidity levels within your space may not be constant at all times. We do not guarantee temperature or humidity ranges anywhere in the facility, included in your space, and you assume all risk of loss due to fluctuations in temperature and humidity from any cause.
Explanation / Answer
The limitation of our liability is affected by the cost we have, the earning capacity of the individual, time period and natural phenomenon’s. The liability of the individual is that he has to return back at any cost and within the time frame. But there is limitation in that or we can say constraints in the liability that bound it so that it not goes beyond.
In the case of rental agreement, the individual is limited in the liability as
These are the limitation of liability beyond this the law didn’t happen. It is discussed before the rental agreement.