What does legal liability mean?

Definitions for legal liability
le·gal li·a·bil·i·ty

Here are all the possible meanings and translations of the word legal liability.

Freebase

  1. Legal liability

    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, tort judgments or settlements, taxes, or fines given by government agencies. Liabilities may be covered by insurance, although typically insurance covers liability arising from negligent torts rather than intentional wrongs or breach of contract. Liability may also be imposed joint and severally in certain cases. Liabilities arising from a contract to borrow money are debt. ⁕Under English law, with the passing of the Theft Act 1978, it is an offense to evade a liability dishonestly. Payment of damages usually resolved the liability. Vicarious liability arises under the common law doctrine of agency – respondeat superior – the responsibility of the superior for the acts of their subordinate. ⁕In commercial law, limited liability is a form of business ownership in which business owners are legally responsible for no more than the amount that they have contributed to a venture. If for example, a business goes bankrupt an owner with limited liability will not lose unrelated assets such as a personal residence. This is the standard model for larger businesses, in which a shareholder will only lose the amount invested.

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Numerology

  1. Chaldean Numerology

    The numerical value of legal liability in Chaldean Numerology is: 5

  2. Pythagorean Numerology

    The numerical value of legal liability in Pythagorean Numerology is: 1

Examples of legal liability in a Sentence

  1. Carrie Goldberg:

    The operators of Celeb Jihad have attempted to skirt legal liability by masking their identity, one way to find out who runs a website is to look up the ICANN registration, which is public. CelebJihad.com hired a proxy service to register their domain. We often have cases like this and it’s one of my true pleasures in life to unmask the identities of web sites and then sue the crap out of them.

  2. Martin Mayer:

    This( The ACLU) letter to the cities states that ‘ Your police department should immediately cease complying with immigration detainers, or else risk legal liability for detaining individuals in violation of the Fourth Amendment, ’.

  3. Jules Polonetsky:

    They've gone from interesting new startup product to part of the global infrastructure in days. And I think the many gaps in maturity are becoming painfully clear, some of them range from just stupid stuff that maybe doesn't create risk to most users, to other things that are going to create legal liability for them.

  4. Ron Wyden:

    Tech companies have an extraordinary special safeguard against legal liability, but that unique protection comes with a responsibility.

Images & Illustrations of legal liability

  1. legal liabilitylegal liabilitylegal liabilitylegal liabilitylegal liability

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    established or prearranged unalterably
    • A. equivalent
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    • C. foreordained
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