Unlimited liability

 

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Unlimited liability

Full liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability.



Unlimited liability

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Unlimited tax bond

Unlimited tax bond

A municipal bond secured by the pledge to levy taxes until full repayment at an unlimited rate.


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An Internal Revenue Service provision that allows an individual to transfer an unlimited amount of assets to a spouse, during life or at death, without incurring federal estate or gift tax.




 
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