Definitions

from The American Heritage® Dictionary of the English Language, 4th Edition

  • n. A clause in a contract that specifies the conditions under which the promisor is relieved of liability for failure to meet the terms of the contract.

from Wiktionary, Creative Commons Attribution/Share-Alike License

  • n. Any clause, term or condition in a contract that allows a party to that contract to avoid having to perform the contract or cancel it.

Etymologies

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