liability of partners
Look at other dictionaries:
liability — /luy euh bil i tee/, n., pl. liabilities. 1. liabilities, a. moneys owed; debts or pecuniary obligations (opposed to assets). b. Accounting. liabilities as detailed on a balance sheet, esp. in relation to assets and capital. 2. something… … Universalium
liability — /ˌlaɪə bɪlɪti/ noun 1. a legal responsibility for damage, loss or harm ● The two partners took out insurance to cover employers’ liability. ♦ to accept liability for something to agree that you are responsible for something ♦ to refuse liability… … Dictionary of banking and finance
limited liability partnership — A legally recognized entity under the Limited Liability Partnership Act (2000). This type of business organization is intended to combine the flexibility of a traditional partnership with the corporate notion of limited liability. Persons… … Accounting dictionary
limited liability partnership — A legally recognized entity under the Limited Liability Partnership Act (2000). This type of business organization is intended to combine the flexibility of a traditional partnership with the corporate notion of limited liability. Persons… … Big dictionary of business and management
Limited liability partnership — A limited liability partnership (abbreviated as LLP) has elements of partnerships and corporations. In an LLP, all partners have a form of limited liability for each individual s protection within the partnership, similar to that of the… … Wikipedia
Limited liability company — This article is about a U.S. specific business entity form. For limited liability companies in the United Kingdom, see Limited company. For a general discussion of entities with limited liability, see Corporation … Wikipedia
Limited liability limited partnership — The limited liability limited partnership (LLLP) is a relatively new modification of the limited partnership, a form of business entity recognized under U.S. commercial law. An LLLP is a limited partnership and as such consists of one or more… … Wikipedia
limited liability partnership — see partnership Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. limited liability partnership … Law dictionary
Limited liability — is a concept whereby a person s financial liability is limited to a fixed sum, most commonly the value of a person s investment in a company or partnership with limited liability. A shareholder in a limited company is not personally liable for… … Wikipedia
unlimited liability — Full liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability. Bloomberg Financial Dictionary When a promoter is fully liable for the debts of the business, it is called… … Financial and business terms
