Jewelers Protection Services, Ltd. entered into an agreement with Colnaghi, U.S.A., Ltd. to install, maintain and monitor two burglar alarm systems in the Colnaghi Art Gallery located at 26 East 80th Street in Manhattan. The contract contains provisions absolving JPS of liability for its negligence, and limiting JPS's liability to $250 in any event resulting from breach of the contract. On February 8, 1988, burglars entered the Colnaghi Art Gallery through an unprotected...
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