unlimited liability

  

Definition

Indefinite extent of liability to pay a firm's debts or obligations, extending beyond the investments of the firm's owner(s), partners, or shareholder(s) to their personal assets. This extent of liability is assumed in an unlimited liability company such as a sole-proprietorship or a general partnership.

Use unlimited liability in a sentence

Related Articles

Related Videos




http://www.businessdictionary.com/definition/unlimited-liability.html

Have a question about unlimited liability? Ask for help in the
Community
advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z