Business, Legal & Accounting Glossary
(law) a voluntary repudiation of a person’s legal claim to something.
n. 1) denial or renunciation by someone of his/her title to property. 2) denial of responsibility for another’s claim, such as an insurance company’s refusal to admit coverage under an insurance policy. 3) statement of non-responsibility, as is made when dissolving a partnership or business.
A disclaimer is a decree that formally denies legal claim and renounces some (or all) liability. A formal disclaimer is also an official piece of writing that substantiates the legal disclaimer itself. Most commonly, a disclaimer is used as a legal caveat, which serves to protect the author of the disclaimer. In a practical sense, a disclaimer might be used to hedge the risk of a possible lawsuit. Thus, for example, if someone sustains an injury as a result of using a given company’s product or service, a well-crafted disclaimer may obstruct the individual’s ability to pursue legal action. As a legal safeguard, a disclaimer has become a frequent part of contracts between corporations and consumers. Insurance companies may take advantage of a disclaimer to transfer some of the risks back to the insured. Internet-based companies, on the other hand, routinely use a disclaimer as an adjunct to each sale.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Disclaimer are sourced/syndicated and enhanced from:
This glossary post was last updated: 27th April, 2020 | 0 Views.