contractual liability

  

Definition

Obligation assumed by any contracting party under the terms of a contract.

Use this term in a sentence

  • I had contractual liability and I had to live up to it, or I would be in big trouble with the people upstairs.

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  • Before being able to turn in the paper work, a signature must be signed on the designated line acknowledging that any personal injuries sustained on the courses are a contractual liability.

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  • Because of the agreement we entered into with the other company we have contractual liability for them if anything goes wrong.

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