Definitions for "EXCULPATORY CLAUSE"
A clause in a contract holding a specified party harmless in the event of default. For example, the provision in a note that the debtor will not be held personally liable in the event of default.
See disclaimer clause.
A contract provision excusing a party for injuries to another; frequently used by lessors in leases. Exculpatory clauses do not affect the rights of third parties who may be injured on the premises.
Keywords:  executor
Keywords:  privilege, executive
Executive Privilege