limitation of liability
Definition 1
General: Written statement that serves as a disclaimer to limit conditions or instances under which the disclaiming party may be held liable for loss or damages.
Definition 2
Memorandum of association: Clause that specifically states that the liability of each shareholder for the firm's debts and obligations is limited to the par value of his or her fully paidup shares.
Mentioned in these definitions
Mentioned in these terms
Popular 'Corporate, Commercial, & General Law' Terms
limitation of liability in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/limitation-of-liability.html
