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limited liability

noun
1.
a liability restricted by law or contract, as the liability of owners of shares in a corporation or limited company, or that of a special partner.
Origin
1850-1855
1850-55
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for limited-liability

limited liability

noun
1.
(Brit) liability restricted to the unpaid portion (if any) of the par value of the shares of a limited company. It is a feature of share ownership
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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limited-liability in Culture

limited liability definition


A fundamental feature of corporations, whereby investors are liable only up to the amount of their investment.

Note: This principle is important for failing corporations because it holds that only the assets of the corporation, not the personal assets of its owners, can be liquidated (see liquidation) to cover the corporation's debts.
The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Difficulty index for limited liability

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Word Value for limited

10
12
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