461. Exclusion clauses.

Under the Misrepresentation Act 1967, 1any clause which purports to limit or exclude liability for misrepresentation is only valid in so far as it satisfies the reasonableness test laid down in the Unfair Contract Terms Act 19772.

The reasonableness test is applied subjectively, in the light of the circumstances which were known to the parties at the time when the contract was made. It therefore depends on the circumstances of each particular case as to whether the exclusion clause will be valid in that situation3. The Standard Contractual Conditions