"Read the following case and answer the question below:
Graham is in practice as an accountant. He wishes to refurbish the exterior of his office premises and, to save money, decides to do it himself. He hires paint spraying equipment from Paint Supplies Ltd, signing a written contract which contains the following clause.
‘Paint supplies Ltd shall not be liable for any loss or damage, however caused arising from use of the company’s products.’
Graham puts the contract in his pocket without reading it.
While Graham is using the equipment it explodes, because of negligent maintenance by Paint supplies Ltd. Paint is spread all over Graham’s premises, and two clients leave him as a result, causing a considerable loss of earnings. Minor injuries are caused to Graham. Replying on the exclusion clause, Paint Supplies Ltd refuse to pay any compensation to Graham.
Task1: Advise Graham about his position regarding rules of Exemption clause.
Task2: Differentiate between different types of terms in a contract. What is the implication of breach of ‘Guarantee of Warrantee’. Give examples to explain your answer. Also write a note on the type of terms in a formal business Contract.
Task3: Write a note on standard form of contract and their practicability."
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