What does uncapped liability mean?

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A limitation (a cap) of liability clause is a contractual provision that restricts the amount of damages a client can recover from a company. Uncapped liability is a liability without a limit.
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What are liabilities?

Liabilities are debts that a business owes.This is a term used in accounting to refer to legally bindingobligations that are payable to another person or entity (usuallylenders and suppliers).

What does Additional insured mean with regard to general liability?

You are the insured. Your landlord or partner or banker may be the additional insured. They have a financial interest in or liability at stake with whatever it is you are insuring. It does not cost you more to name an additional insured. Why didn't you aks your agent this question?. Can the person (MORE)

What is the meaning for Waiver of Liability?

Waiver of Liability . Waiver of Liability: A written notice given to the aptient by the provider in advance of any service or supply furnished for which payment may be denied or reduced by Medicare as not reasonable and medically necessary. This notification serves as protection for both the p (MORE)

What does it mean to contest the issue of liability?

Virtually every civil lawsuit has two components to be proved by plaintiff to win the case: liability and damages. In a car accident it is sometimes unclear who was at fault.Sometimes both were at fault either equally or in different degrees of comparison. If plaintiff fails to prove defendant was n (MORE)

Difference between capped and uncapped commission?

Well 'Capped' commission relates directly to employment which requires you to wear some form of headgear. Hence the term 'Capped'... Whereas 'Uncapped' employments firms allow you use your discretion on whether to wear head attire or not.. Hope this helps!. The answer above is incorrect. A "cap (MORE)

What does Delay payment of liabilities mean?

One might want to pay a bill early. For example, pay a bill in 10 days instead of 30. By doing this you have lost the use of your cash for 20 days. One should use the full payment period to pay their bills.

What does liability coverage mean?

Liability coverage covers you if you are found liable or at fault for damages. In the case of auto insurance, for example, this coverage pays for damages you cause in an accident that is you fault. This coverage will NOT cover your car damage, however. Just the other drivers car, medical bills, & ot (MORE)

What is a liability?

A liability is an obligation, money owed or perhaps a burden. A company or organisation has the liability to pay to outsiders such as creditors, accounts payable, long term loans, etc. In a liability, a person has a legal responsibility for their actions. Liabilities means a debt or the amount due (MORE)

What does net liabilities mean?

Net Liabilities are its debts after its current assets are sold. Acompany's current assets are those that will be sold within oneyear.

What is the meaning of enduring liability?

Enduring Liability refers to the fact that when suing a person for negligence you have a six years window from the date of the incident. When a child is the person who was injured due to neglect their parent or other adult can sue at any time on behalf of the child up until the child turns eighteen (MORE)

What is uncapped commission?

Uncapped commission is the ability to make the necessary funds without the worry of competition within the sales/marketing field. As you have a based salary,it would be a based incentive. The simply fact of making a sale outside of the job description and nature (using your wits in means of not cruc (MORE)

What is the meaning of 'redeem liability '?

I t means that the points you earned from e-voucher can be can be converted as cash to pay for the premium for X insurance products. Generally, it would also say that how many points will you certain amount of cash e.g. one point equal to one currency unit or 4 points equal to one currency unit.

What is the meaning of limited liability?

Limited liability is a type of liability that cannot exceed the amount that has been invested in a partnership or limited liability company. Limited liability protects personal assets from the risk of being seized to satisfy creditor's claims, debts and other obligations. For privately or publicly h (MORE)

What does cross liability mean?

Cross liablity is where there are two named parties under the same insurance poliy. One may not make a claim against another and the overall limit is the same total amount.

Actually what means cross liability?

Cross liability, sometimes referred to as "Joint Liability"is an instance where more than one person or entity is considered liable for a loss or injury.

What does Aggregate mean in general liability?

In a insurance policy, the limit of liability is often expressed as a value per occurrence and a separate value as an aggregate limit. The policy will pay no more than the per occurrence limit for each covered occurrence Further, the pay no more than the aggregate limit for all claims during the pol (MORE)

What is the meaning of joint liability?

Joint liability means that at least two parties share liability in a lawsuit or legal dispute. Often, a jury decides what percentage of liability each defendant is responsible for. An example - An automobile is rear ended by a furniture delivery truck. The driver of the auto is injured and sues the (MORE)

What do you mean by liabilities?

Any amount which is returnable by the company to it's owners oroutsiders on the event of dissolution of company that amount iscalled liability of company

What do you mean by assets and liabilities?

Assets are things which have a value and you are the beneficiary for those. ex: land, house, stocks, bank deposits, money receivable from others etc Liabilities are things which have a value and you are the one who has to make those payments. ex: salary to employees, loans etc.

What does the word liability mean?

liability is my universal primary commitment to save goldena nd retriver genes and then all other species of creation as retriver..... liability is your responisibilty.... periancavar venkataraman perioasamy sreeraam : universal hero.

What does unlimited liability mean to the owner of a business?

The owner has personal liability for anything that happens. That is whi it is good to have an LLC (limited liability corporation). Mine cost $60 to set up on the state's web site. If a customer is killed in my shop all I can lose is the business, not my home.

What is uncapped ramping in paintball?

There cannot be uncapped ramping. Ramping must have a maximum bps to ramp to. All ramping in capped, for instance at 13 bps. Once you get to the required, lower bps, say 5 bps, then it sends it in to a 15 bos auto mode for as long as you go 5 bps.

What does Joint and several liability mean in rental agreement?

Joint and several liability means that all the tenants are responsible for all the rent. So, if John and Betty both sign the lease, and the rent is $1,000, it's not like John owes $500 each month, and Betty owes $500 - they both owe the whole thing. The landlord can't collect $2,000 total; once he g (MORE)

What is the exact meaning of liability define?

In accounting terms, Liability is one of the type of account.Using this type of account for all other loans, generally larger long-term loans such as a mortgage or vehicle loan can be got. This account can help you keep track of how much you owe and how much you have already repaid.

What does it mean when someone has liability insurance?

It means that their insurance company will pay for damage done to the other party. However, they are on their own for damage done to their own car and their own medical expenses. Collision coverage is for damage done to your car during an accident. Comprehensive coverage would cover other types of d (MORE)

What does the term Liability mean and how is it important?

Liability is the responsibility that a person, group, or organization has toward another person, group, or orgnization for its actions. Every person that drives a car is responsible for what they do on the road. Licensed proffessionals are responsible for the quality of services they provide and are (MORE)

What is the meaning of contigent liability?

I liability that may be incurred depending upon future event(s) Example- let there is a claim on a company existence of that liability is depends on decision of court so existence of that liability is uncertain so we can say that contigent liability is that liability which may occur or may not. ..

What does it mean to say a business has limited liability?

That means the owners are protected from company failure because the company is legally considered a separate entity. It blends the features of a partnership with a traditional corporation. LLC is a US term for this, but other countries have their own version. Germany has a GmBh and KG, and a US LLC (MORE)

What does a public liability mean?

A public liability is a form of insurance purchased by businesses. This insurance protects a company from lawsuit in the event a consumer is harmed as a result of their actions.

What does criminal liability mean?

From a legal perspective, criminal liability is a subset of liability that implies the law was broken and harm may have been done to a person. Example: If a person owns a car and it has a defect that causes it to run into a person, the car owner is liable but not criminally liable (the maker of th (MORE)

Is uncapable a prefix?

in- is the prefix of incapable. Uncapable is not an actual word and it can be mistaken for incapable.

What does it mean for a sole proprietor to have unlimited liability?

If someone is injured, either physically or financially, and theproprietorship is found to be liable, the victim can go aftereverything the proprietor owns, including his house, his vehicleand his personal bank account, up to the amount of the judgement.If the same thing happens in a business owned (MORE)

What does Pecuniary liability mean?

It is the personal financial responsibility of accounting officialswho approve expenses, making them responsible for verifying theaccuracy of their account payments. If you are an official, it means that you have financialresponsibility for erroneous payments made as a result of yoursignature . As (MORE)

What does liabilities mean?

Legally, liabilities are things you are responsible for such asdebts or breakages. In the status of an individual or group, liabilities aredrawbacks or negative attributes, just as assets candescribe positive attributes. For example, less than average weightand a problem with catching passes can (MORE)