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- : characterized by enforceable limitations prescribed (as by a constitution) upon the scope or exercise of powers
www.merriam-webster.com/dictionary/limited
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What is limited liability?
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Jul 14, 2022 · Limited liability is a legal structure of organizations that limits the extent of an economic loss to assets invested in the organization and that keeps the personal assets of investors and...
Oct 26, 2022 · Exclude or limit any right or remedy in respect of the liability—an example is excluding the right to set-off. Clauses that are considered not to constitute limitation or exclusion of liability clauses, include agreed or liquidated damages clauses and arbitration clauses.
Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or joint venture.
formal uk / ˈlɔː.f ə l.i / us / ˈlɑː.f ə l.i / Add to word list. in a way that is allowed by law: She maintained that she was acting lawfully. The documentation meant that they could lawfully work in the United States. See. lawful. Fewer examples. Tobacco can be sold lawfully only to those 18 and older. He can lawfully be held for questioning.
Limited liability is a legal concept that limits the liability of a company’s owners or shareholders to the amount of their investment in the company. In other words, if a company is sued or incurs debts, the owners or shareholders are not personally responsible for paying the company’s obligations beyond the amount of their investment.
limited liability - A characteristic of corporations and LLCs that limits a business owner's financial responsibility to the amount invested in the business, protecting personal assets from business debts, claims, and judgments.
May 15, 2018 · Assuming no fraud has taken place, 'limited liability' means you will not be personally liable for any financial losses made by the business. A limited company can give...
