514. Exclusion or restriction of liability.

(iv)     Limitations on Liability

514.     Exclusion or restriction of liability.

In principle, a valuer may: (1) exclude or restrict his liability for negligently causing financial loss to his client by means of an appropriate term in the contract under which he is engaged1; and (2) exclude or restrict his liability for negligently causing financial loss to a third party by means of an appropriate notice or disclaimer2.

In consumer contracts excluding liability for negligence is barred under the Consumer Rights Act 20153 where a breach of any obligation to take reasonable care or exercise reasonable skill in the performance