s.2(3) Misrepresentation Act 1967
Restricts the freedom to exclude liability for misrepresentation
a) Damages may be awarded against a person under s.2(2) whether or not he is liable to damages under s.2(1)
BUT
b) where he is so liable any award unders.2(2) shall be taken into account in assessing his liability under s.2(1)
If a contract contains a term which would exclude or restrict:
a) any liability a party may have due to a misrepresentation made by him before the contract was made; or
b) any remedy available to another party due to misrepresentation
The term shall be of no effect, unless it satisfies the requirement for reasonable ness as stated in s.11 UCTA 1977
s.11 UCTA 1977
(1) The term shall have been a fair and reasonable one to be included having regard to the circumstances which were, or ought reasonably to have been, known to or in the contemplation of the parties when the contract was made.
(2)regard shall be had in particular to the matters specified in Schedule 2 to this Act; but this subsection does not prevent the court or arbitrator from holding, in accordance with any rule of law, that a term which purports to exclude or restrict any relevant liability is not a term of the contract
(3) it should be fair and reasonable to allow reliance on a notice, having regard to all the circumstances obtaining when the liability arose or (but for the notice) would have arisen
(4) When determining limitation clause, the court should rely on
(a) resources of the proferens for the purpose of meeting the liability
(b) whether the proferens could have insured
(5) Burden of proof is on the proferens