LIMITATION OF LIABILITY

limitation of liability: translation

limitation of liability limiˌtation of liaˈbility noun limitations of liability _PLURALFORM [countable] LAW

when someone is responsible for only part of a debt, loss etc:

• In a recent case, it was held that the defendants' limitation of liability was unreasonable and could not be upheld.

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limitation of liability UK US noun [C or U] (plural limitations of liability) LAW

► a rule that controls or reduces someone's legal and financial responsibility for a problem, such as damage, a debt, or a mistake: »Limitation of liability clauses protect the equipment manufacturer if there's an accident during training.

Смотреть больше слов в «Financial and business terms»

LIMITATION ON ASSET DISPOSITIONS →← LIMITATION

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