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A liability cap is a contractual provision that limits the amount of damages one party can recover from another in the event of a breach or other legal claim. This cap is typically expressed as a fixed dollar amount or as a multiple of the fees paid under the contract. It helps manage risk by providing predictability for both parties regarding potential financial exposure. Liability caps are commonly found in business agreements, such as service contracts and software licenses.
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What do you mean by internal and external liability of the company?
internal liability mean that company will pay salary, so salary is internal liability, and the company will pay interest to bank it is external liability.
What does liability mean?
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.
What does a credit balance on partner's current account mean?
current liability
What does it mean a married couple filing a joint tax return has joint and several liability for the taxes associated with the return?
It means that they have joint liability as a couple and also individual liability, so that each one can be charged separately.
What other term would mean almost the same as assets and liability?
Net assets
What does uncapped liability mean?
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.
What means liability?
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.
What does limited liability mean to corporations mean?
When an investor's liability is limited only to the initial investment
What do you mean by internal and external liability of the company?
internal liability mean that company will pay salary, so salary is internal liability, and the company will pay interest to bank it is external liability.
What does liability mean?
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.
What is mean by hand cap?
any hand cap
What does the M mean on the Atlanta Braves cap?
The cap is a retro cap and it stands for Milwaukee
What does LLC mean?
Limited Liability Company.
What does liability in consequence mean of negligence mean?
i have no idea but then again I am dumb
What does une casquette mean in English?
"Une casquette" translates to "a cap" or "a baseball cap" in English.
What does No Aggregate mean in general liability?
In general liability insurance, "No Aggregate" refers to a policy feature where there is no limit on the total amount the insurer will pay for all claims during the policy period. Unlike aggregate policies, which cap total payouts at a specified limit, a no aggregate policy allows for potentially unlimited coverage for each individual claim. This can provide greater protection for businesses facing multiple claims, ensuring they are fully covered without the risk of hitting a cap on payouts.
What does Class LLC mean?
Limited Liability Corporation.
