shaquilleoatmeal
15:58
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
statutory disclaimer
Read a random definition: inessential mistake
A quick definition of statutory disclaimer:
A statutory disclaimer is a statement made by a person or company to give up their legal right or claim to something. This can be done to avoid rejection of a patent claim or to limit liability for defects in goods sold. It can also refer to a person's refusal to accept an interest in property to avoid paying taxes. A qualified disclaimer is a type of disclaimer with a restriction or condition attached. A patent applicant may also make a disclaimer by amending their specification to relinquish one or more claims to the invention. A terminal disclaimer is a statement shortening the term of a patent or to avoid a double-patenting rejection.
A more thorough explanation:
A statutory disclaimer is a legal statement that disclaims or renounces a legal right or claim. It can be in the form of a written or oral statement, and it is often used to limit liability or avoid taxes.
- Disclaimer of Warranty: A seller may include a statement in their sales contract that limits their liability for defects in the goods sold. For example, a car dealership may include a disclaimer that they are not responsible for any issues with the car after it is sold.
- Patent Disclaimer: A patent applicant may amend their application to relinquish one or more claims to the invention. This is done to avoid having the entire application rejected due to a single invalid claim.
- Qualified Disclaimer: A person may refuse to accept an interest in property to avoid paying estate or gift taxes. This refusal must be in writing and executed within nine months of the interest being created.
These examples illustrate how a statutory disclaimer can be used to limit liability, avoid taxes, or protect legal rights.