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Is it necessary in Tennessee to have a specific monetary amount

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Is it necessary in Tennessee to have a specific monetary amount in the Limitation of Liability clause in a agreement?
9. Limitation of Liability: Agrileum agrees, to the fullest extent permitted by law, to limit the liability of Syslynk for any and all claims, costs, losses, inconsequential damages of any kind or expense claims from any cause, including any associated attorney fees, so that the total aggregate liability of Syslynk shall not exceed $12,000, or Syslynk’s total fee for services rendered on this project, whichever is greater.
Hi,

Thank you for your question.

Tennessee does not have a requirement that a specific number be stated in a limitation of liability clause in order for it to be enforceable. However, there is a requirement that the clause provide a manner of calculating the specific limitation in order for it to be enforceable. The clause which you have quoted will likely be enforceable if the parties under the contract are of equal or near bargaining power.

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Best Regards,
ZDN
Customer: replied 3 years ago.


Can I drop the monetary figure and just say:


9. Limitation of Liability: Agrileum agrees, to the fullest extent permitted by law, to limit the liability of Syslynk for any and all claims, costs, losses, inconsequential damages of any kind or expense claims from any cause, including any associated attorney fees, so that there is no liability of Syslynk.


 


Syslynk (my company) is a very small business compared to Agrileum (A large cooking oil to diesal fuel Company.)

You can, if they will agree to it. You wouldn't state it like that though. You would state:

Agrileum agrees that Syslynk shall not be liable for any damages (direct or indirect), claims, costs, losses, or other expenses caused or otherwise arising from any action of Syslynk in connection to the performance of this contract. Further Agrileum agrees to indemnify and defend Syslynk from any and all claims by any and all third party against Syslynk related to Syslnks performance of this contract.
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