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Unlimited liability |
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Unlimited liabilityFull liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability.Unlimited liability Similar MatchesUnlimited tax bondUnlimited tax bondA municipal bond secured by the pledge to levy taxes until full repayment at an unlimited rate. Unlimited marital deductionUnlimited marital deductionAn 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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