Business Liability for Damages constitutes a contractual obligation by which the party (the defaulting party) that breaches its contractual obligations, that have been accepted to be fulfilled with the contract, is required to reimburse the other party (the non-defaulting party) the damages caused by this breach.
Business Liability for Damages is judicially conveyed by the so-called damage claim. Justification of the damage claim is dependent on whether the non-defaulting party succeeds in proving the existence of statutory assumptions of liability determined by law, which may differ depending on the type of the breach of contractual obligations. It is also necessary to take into account possible contractual agreements on business liability. Within the principle of party autonomy in contractual obligations, the parties may contractually agree on an extension, limitation or exclusion of the business (contractual) liability that deviates from the law.