For a more nuanced account of the adoption of section 102(b)(7) see J.R. Brown and S. Gopalan, ‘Opting Only In: Contractarians, Waiver of Liability Provisions, and the Race to the Bottom’ (2008), University of Denver Legal Studies Research Paper No 08-02; available at SSRN: http://ssrn.com/abstract=1087404.

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