|
|
Limited liability |
|
|
|
 Home Site Map Add Term Search About Us Contributors |
Limited liabilityThe principle that the liability of shareholders for debts of a corporation or limited company is limited to the nominal value of their shares. In other words, their personal assets are not at risk if the company becomes insolvent and is liquidated.Limited liabilityLimitation of loss to what has already been invested.Limited liability Similar MatchesContractual liabilityContractual liabilityThe terms of a contract to which you must abide. There may be financial or even criminal penalties which you incur if if you do not meet your contractual liabilities. Umbrella personal liability insuranceUmbrella personal liability insuranceIn the US, liability insurance giving excess cover over and above that cover provided by other policies. For example if general policies give total liability insurance cover of $400,000, an umbrella policy could typically provide cover of $1 million. If a claim of $700,000 were made the umbrella policy would pay out only after the $400,000 has been first exhausted. Unlimited liabilityUnlimited liabilityFull liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability. Noncurrent liabilityNoncurrent liabilityA liability due in one year. Joint liabilityJoint liabilityThe responsibility of two or more people to fulfill the terms of a home loan or debt. Further SuggestionsLiability insurancejoint liability Umbrella personal liability policy liability insurance Funded Liability joint and several liability Limited liability instrument Liability Contingent pension liability Lender liability lawsuits Tax liability |
|
|
|