What does an exculpatory contract allow a party to do?

An exculpatory contract primarily functions to release one party from liability for their own negligence or wrongful acts, particularly in situations involving risk or potential harm. When a party enters into such a contract, they agree not to hold the other party legally responsible for certain injuries or damages that may occur. This type of provision often appears in contexts such as recreational activities, where participants acknowledge the risks involved and consent to not pursue legal action for injuries resulting from those risks.

Thus, the correct answer is indeed that it allows a party not to sue for death; by signing an exculpatory contract, individuals effectively waive their right to take legal action for deaths or injuries resulting from the negligence of the other party. Such waivers are significant in sectors like aviation, where conventional risks associated with flying or airborne activities might lead to unexpected accidents. Conversely, the other choices do not accurately describe the principal function of exculpatory contracts.