(law) Abbreviation of liability.

plural of limited liability company

(law) The legal responsibility arising when a party materially contributes to, facilitates, induces or is otherwise responsible for directly infringing acts carried out by another party.

(law) A legal doctrine and form of secondary liability under which individual entities can be held jointly liable for some action on the basis of being part of a shared enterprise.

(law) The legal responsibility of the superior for the acts of their subordinate.

Quality of being liable; liability.

(law) Of a business entity, having liability for legal claims that is limited to the assets of the entity itself, and which therefore does not reach the assets of the individual owners/investors of the company.

An obligation, debt or responsibility owed to someone.

Any insurance against a potential loss due to the insured's liability for injury or damage to others.

bound or obliged in law or equity; responsible; answerable. / subject; susceptible. / exposed to a certain contingency or causality, more or less probable.