What Is Legal Liability

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Liability. A comprehensive legal term that describes the condition of being actually or potentially subject to a legal obligation. Joint liability is an obligation for which more than one person is responsible.. Joint and several liability refers to the status of those who are responsible together as one unit as well as individually for their conduct.

Legal liability concerns both civil law and criminal law and can arise from various areas of law, such as contracts, torts, taxes, or fines given by government …

Limited Liability: A Legal and Economic Analysis [Stephen M. Bainbridge;M. Todd Henderson] on Amazon.com. *FREE* shipping on qualifying offers. ‘Bainbridge and …

Legal liability is the legal bound obligation to pay debts. In law, a person is legally liable when they are financially and legally responsible for something. Legal liability concerns both civil law and criminal law. legal liability can arise from various areas of law, such as contracts…

Obligations under law arising from civil actions (torts) or under contract. Legal liability can only be decided by courts even if the settlement is made out of the …

What is LEGAL LIABILITY? What does LEGAL LIABILITY mean? LEGAL LIABILITY meaning & explanation. In law, a person is legally liable when he/she is…

Actual Loss Or Damage In law, damages are an award, typically of money, to be paid to a person as compensation for loss or injury. … At common law, damages are categorized into compensatory (or actual) damages, and punitive damages. compensatory damages … Negligence Liability Negligence (Lat. negligentia) is a failure to exercise appropriate and or ethical ruled care ….

How about as a limited liability company or a C corporation? Choose the right answer and you’ll pay less tax, protect your pe…

Whether providing services as an accountant or auditor, a certified public accountant (CPA) owes a duty of care to the client and third parties who foreseeably rely …

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Legal Liability. This refers to the responsibility to pay debts, which is a part of both criminal and civil law. If you are found "legally liable," that means you are …

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For example, in order to obtain pollution legal liability insurance, a property owner can be required to commission a Phase I …