LIMITATION OF LIABILITY
\lˌɪmɪtˈe͡ɪʃən ɒv lˌa͡ɪəbˈɪlɪti], \lˌɪmɪtˈeɪʃən ɒv lˌaɪəbˈɪlɪti], \l_ˌɪ_m_ɪ_t_ˈeɪ_ʃ_ə_n ɒ_v l_ˌaɪ_ə_b_ˈɪ_l_ɪ_t_i]\
Sort: Oldest first
-
1. In General, this is a statement given in writing that sets the conditions and damage amounts as a disclaimer on liability. 2. As a Memorandum of association, this is a statement clearly limiting liability to the par value of fully paid-up company shares for the firm's debts and obligations on a shareholder.
By Henry Campbell Black
Word of the day
Platidiam
- An inorganic water-soluble platinum complex. After undergoing hydrolysis, it reacts DNA produce both intra interstrand crosslinks. These crosslinks appear to impair replication and transcription of DNA. The cytotoxicity cisplatin correlates with cellular arrest in G2 phase cell cycle.