noun
COLLOCATIONS FROM OTHER ENTRIES
limited liability
COLLOCATIONS FROM CORPUS
■ ADJECTIVE
civil
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The Act, however, has no effect on civil liability .
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The expressed intent of immunity legislation is to encourage reporting without fear of civil or criminal liability .
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It looks at joint compensation schemes cases in which civil liability principles do not apply.
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Some states already have enacted laws that impose civil liability for failure to report.
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It is far from clear, even using the Diplock test, which statutes will give rise to civil liability .
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Whatever the outcome, s.61 style remedies are important for the future development of civil liability for insider dealing. 4.2.5.
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Draft directives on civil liability for damage caused by waste are under discussion.
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Both civil and criminal liability are incurred by the corrupt giving or receiving of such commission.
contingent
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Margin Rule 5-28 imposes various requirements in relation to margined contingent liability transactions.
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Clearly, the vendor will seek as large a consideration as possible, with as few contingent liabilities as possible.
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Instead, the vendor should be encouraged to identify, describe and quantify the actual and contingent liabilities arising from these disputes.
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What further contingent liabilities are being assumed elsewhere in the group?
criminal
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The question of criminal liability can not be relegated to a matter of medical consensus.
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The expressed intent of immunity legislation is to encourage reporting without fear of civil or criminal liability .
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Statutes of 1859,1871 and 1875 were designed to relieve trade unions of criminal liability , especially for conspiracy.
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One reason for this may be a desire to protect from criminal liability men whose conduct is not universally regarded as criminal.
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Both civil and criminal liability are incurred by the corrupt giving or receiving of such commission.
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So, keep detailed records of drivers of all company vehicles: otherwise this personal criminal liability may arise.
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If a hotel receptionist double-books a room does this give rise to criminal liability ?
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Meeting the minimum requirements of safety legislation or standards is a complete defence to criminal liability .
current
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Therefore we have a current liability .
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Next, changes in current asset and liability accounts that impact cash must be accounted for.
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We can see from this that there has been a rise in the reliance on current liabilities in 1988 compared to 1984.
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As a firm grows, current assets will generally grow faster than current liabilities .
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Looking to the right-hand side of the balance sheet, current liabilities often provide a major source of financing for a firm.
financial
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It requires evaluation of how far the risk of personal financial liability is an incentive to performance.
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And some relatively youthful households may have large amounts of financial liabilities .
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Careers are ruined - for the individuals and, maybe, for some of their colleagues. Financial liability is serious.
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Poor, working fathers have literally been made financial liabilities to their families.
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Note that financial assets and liabilities cancel one another out, thus making net worth equal to the value of physical assets.
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They think that unlike previous cases, the tobacco industry is not going to be able to avoid any financial liability .
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Land is both stock-in-trade and a financial liability , particularly with the fluctuating rates of interest which are currently prevalent.
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No register to search, and in this ancient and complex field there can be quite substantial financial liability .
joint
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There will again be Joint and Several liability as there was in Community Charge.
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It is helpful for the purchaser and the vendors to understand the implications of both joint liability and several liability.
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Clearly several liability favours the purchaser whereas joint liability favours the vendors.
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Note: Joint and several liability unlikely to be an issue in an asset sale.
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Clearly several liability favours the purchaser whereas joint liability favours the vendors. Joint and several liability is a suitable compromise.
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A change in the law on joint and several liability , in particular apportionment of liability, is required.
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Another feature that will survive from the poll tax is joint and several liability .
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But there is no reason why it should not exist independently of joint liability .
legal
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It also figures in the rules governing the legal liability of public authorities.
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As partners, they would share profits, losses, and legal liability .
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There is no reference to any additional expenditure on working to ensure a fairer system of legal liability .
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Personal Liability ... Up to £500,000 To cover your legal liability for accidental injury to third parties or accidental damage to their property.
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The proposals also aim to overcome the present problems relating to the independence, accountability and legal liability of external auditors.
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Though not under a legal liability to maintain his illegitimate child, the father is under a moral duty to do so.
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Even the parents looked worried this time - probably thinking of legal liabilities , Hoomey thought.
limited
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There are three main alternatives: sole practitioner; partnership; or unlimited or limited liability company.
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If institutional investors are involved, the buy-out vehicle could be a limited partnership, to afford the institutions limited liability .
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As Turbosoft were not a limited liability company, the proprietors are personally liable for the losses and could be made bankrupt.
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It should, however, be pointed out that in practice the extent of limited liability is itself restricted.
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One, the Abbey National, has already switched to limited liability status as a full bank.
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Thus, it has hitherto been appropriate for the professional partnership where limited liability is forbidden.
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Only limited partners may claim limited liability .
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To neither form of business undertaking had the privilege of limited liability yet been conceded.
other
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Borrowings and other liabilities . 0704.12 Warranties on business matters Insurance and claims record.
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Convertible debt is to be displayed separately from other liabilities .
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In other cases, liability can be excluded or restricted provided that the term satisfies a test of reasonableness.
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All other assets and liabilities are ignored in this simplistic illustration on the creation of claims.
personal
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The threat of personal liability provides directors with an incentive to comply with applicable standards of conduct.
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Examples of such rules include divorce, contracts, or personal liability litigation.
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Basic Rate Taxpayers will have no personal liability to Income Tax.
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Likewise, check into homeowners' insurance, auto insurance and an umbrella personal liability policy.
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The 1951 Act also provides for personal as well as corporate liability .
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Indeed, many people have faced personal liability for the withheld payroll taxes of a company owned by some one else.
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All partners are unlimited in their personal liability for the debts and obligations of the firm incurred whilst a partner.
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In this sense, a small private company may confer no great advantage over the personal liability of a partner.
potential
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Two principal heads of potential liability are cited to justify this position and call for consideration.
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Teal had told the police only that there was a potential liability in the placement of an adult among minors.
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Secondly, the purchaser will require the surveyor to assess potential liabilities under repairing obligations in the lease and in particular for dilapidations.
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The potential liability of Willens and PaineWebber is another facet of the investigation.
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The possibility of potential deferred tax liabilities crystallising.
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Allied responsibility: Will assume environmental responsibilities and potential future liabilities for the purchased landfills.
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Finally the apartment manager, fearful of the potential liabilities and lawsuits related to substandard housing and building codes, evicted us.
public
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Medical and legal expenses, public liability and cancellation should all be included at as high a level as possible.
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It provides cover for public and products liability .
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Unfortunately it is becoming harder to obtain public liability insurance cover because of the very large amounts awarded nowadays in damage claims.
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For example, you mentioned the need for public liability insurance, so I went ahead and arranged that.
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That may include public liability , product liability and bad debt insurance.
strict
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A contractual obligation, such as an exchange rule gives rise on the face of it to strict liability .
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It is a form of strict liability .
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Its purpose is to introduce a strict liability regime on producers of defective products.
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The reasonable foreseeability test should not apply in strict liability torts as foresight of damage is not generally required to establish liability.
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There are two approaches: with fault and strict liability .
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This resulted in the passing of the Consumer Protection Act 1987 which introduces a strict liability regime for defective products.
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A form of strict liability is also created for damage caused by articles falling from an aircraft whilst in flight.
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The Prince rule of strict liability as to age, which applies equally to indecent assault, has already been noticed.
total
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The company has total liabilities of £2.8m and a trading loss of £800,000.
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By definition, assets must equal the total liabilities plus equities.
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For instance, take a clause which imposes a total cap on liability under a contract.
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By balancing profits and loss in this way, total tax liability may be reduced.
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Even so, as Table 4.1 shows, wholesale funding remains a comparatively small proportion of total liabilities .
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The gross size represents total foreign currency liabilities of banks in major financial centres.
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Calls for special deposits are normally expressed as a uniform percentage of each bank's total eligible liabilities .
unlimited
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There are three main alternatives: sole practitioner; partnership; or unlimited or limited liability company.
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If this is not sufficient the unlimited liability of the members is joint and several.
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A seller who accepted an unlimited liability for economic loss on many of his transactions would soon go out of business.
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Partnerships are a legal stipulation for law firms, and, with unlimited liability , a burden for many.
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Mr Mitchell's own state of Maine is one of 18 that impose unlimited liability .
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The new companies would also differ from co-operatives in that they would operate with unlimited liability .
■ NOUN
company
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There are three main alternatives: sole practitioner; partnership; or unlimited or limited liability company .
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V., a nonprofit limited liability company , was formed to develop and operate the network.
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As Turbosoft were not a limited liability company , the proprietors are personally liable for the losses and could be made bankrupt.
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What are the differences between a sole proprietorship and a limited liability company ?
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Hacker Young advised that the Halls should opt for the dual status of charity and limited liability company .
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In 1887 Davies set up a limited liability company , the Ocean Coal Company, with a nominal capital of £536,000.
insurance
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This bond requirement is not a substitute for the normal liability insurance carried by freight forwarders.
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And there usually is a set-up fee and security deposit, plus liability insurance .
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Old liability insurance policies that were in effect at the time of the relevant incidents can be valuable.
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My own medical liability insurance bill is something between $ 25, 000 and $ 32, 000 annually.
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Many house and contents insurance policies have provision for liability insurance for claims of negligence against you, it is worth checking.
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The partnership purchases workers' compensation and liability insurance , which reduces the bureaucratic burden on participating companies.
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It doesn't recommend trespass, it urges that you should consult the police and get third-party liability insurance .
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If you serve alcohol in a public place, you may have to buy liability insurance . 10.
product
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On a share sale product liability is vital.
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The product liability bill was a breakthrough, but it is only part of what we need.
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It provides cover for public and products liability .
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There are two such rules which apply to claims for product liability under the Consumer Protection Act: 1.
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Dozens of laws have been written to deal with car cases, ranging from traffic disputes to product liability .
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It is backed by a £15 million insurance warranty covering product liability on defective material, damage to property and consequential losses.
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I have also written quite extensively on product liability and on aspects of consumer law.
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Product Development for the Health Conscious Consumer; and there will be items on product liability and litigation.
tax
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These are non-statutory rules made by the Inland Revenue stipulating when full tax liability will not be enforced.
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Individuals owning their own businesses must compare the expected tax liability of a proprietorship or partnership with the liability of a corporation.
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But the procedures for establishing relief are cumbersome and have given rise to delays in settling a Name's tax liability .
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Many high-income people can reduce their income tax liabilities very substantially by availing themselves of this loophole.
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Capital allowances reduce a company's tax liability and thus improve its after-tax cash flow.
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Will there be any tax liability ?
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No debts remained outstanding, apart from a tax liability in excess of £500,000.
■ VERB
accept
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As recognised by the conditions of engagement, the report is made to the borrower and the valuer accepts liability to him.
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The Board of Guardians replied that they didn't have any isolation hospital and were unable to accept liability .
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A seller who accepted an unlimited liability for economic loss on many of his transactions would soon go out of business.
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The Scheme makes no difference to an employee's rights to take legal action, and the Company accepts no liability .
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So far as the seller is concerned he would prefer not to accept liability to deliver by a particular date in the first instance.
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The purchaser is unlikely to want to accept liability for the vendor's actions when it has had no control.
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We will not accept liability in respect of claims that we receive after that date. 6.
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These are regrettably beyond our control and we are unable to accept liability .
admit
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North West Anglia Health Authority admitted liability .
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The award was made against London Underground, who admitted liability but disputed the amount of damages.
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In the world's most litigious society the refusal to admit liability is culturally ingrained.
arise
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The sort of liability that can arise is often unforeseeable and can be expensive.
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Instead, the vendor should be encouraged to identify, describe and quantify the actual and contingent liabilities arising from these disputes.
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Management considers that adequate provision has been made for any liability which may arise in respect of the years 1981 to 1983.
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So, keep detailed records of drivers of all company vehicles: otherwise this personal criminal liability may arise .
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The liability must arise from: 1.
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A tax liability would therefore arise but the cash may not be available to meet this obligation.
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No provision has been made for any taxation liability that would arise is these assets were disposed of at their revalued amount.
avoid
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The moral of these cases is that journalists can not avoid liability for defamation merely by avoiding the naming of names.
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Moreover, you would avoid the tax liability for interest on the taxable savings in the first plan.
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Therefore, a purchaser would avoid automatically assuming liabilities by requiring a vendor to dismiss all or some employees prior to completion.
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They think that unlike previous cases, the tobacco industry is not going to be able to avoid any financial liability .
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Several concessions have been introduced which allow the better off to avoid their full tax liability .
become
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What was a potentially valuable, or at least useful, asset in bricks and mortar rapidly becomes a liability .
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For people who are suddenly disabled and for many aging homeowners, traditional houses become inconvenient liabilities .
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It seemed that Fitzroy Maclean, however distinguished and celebrated, had become a serious liability .
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His departure was recognition that his unpopularity had become a liability for the Conservatives in an election year.
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The implication of the latest moves are that humans have moved to the debit side and become liabilities .
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These very assets of course, if improperly handled, become liabilities .
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He was slow to recognize the extent to which the Suez garrison had become an expensive liability .
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Maybe he/she is right; often he/she is not and may recruit some one who becomes a liability .
cover
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Personal Liability ... Up to £500,000 To cover your legal liability for accidental injury to third parties or accidental damage to their property.
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It is also difficult to obtain insurance cover in substantial amounts to cover this type of liability .
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Civil and criminal law Civil laws cover contract and liability in tort.
escape
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As seen, no such means of escaping their liabilities was available to non-traders.
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If he is found guilty, but was clearly not acting for the company, it would escape liability .
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This point means an absolute requirement for a person to maintain his brakes to escape liability .
establish
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Mere presence at the scene of the disorder is insufficient to establish liability .
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The reasonable foreseeability test should not apply in strict liability torts as foresight of damage is not generally required to establish liability.
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Similarly, establishing liability will be feasible where it is clear that the company's interests have not been addressed by management.
exclude
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A general exclusion clause which excludes liability altogether is thus very unlikely to be reasonable under s 3.
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A notice in the guest's room sought to exclude liability for loss or damage to guest's property.
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Attempts to exclude liability for negligence are governed by s. 2.
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Some exclusion clauses do not totally exclude liability for a breach but only restrict it.
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Can he exclude his liability for negligence?
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First, it is impossible to exclude liability for death or personal injuries caused by negligence.
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A court is unlikely to regard it as reasonable to exclude liability in such cases.
exempt
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The Unfair Contract Terms Act does not totally prohibit the seller from exempting himself from liability for breach of these other terms.
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Moreover, death caused by poisoning, the most pre-meditated of all murders, was exempted from liability to capital punishment.
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But this does not exempt them from liability if their actions result in negligent damage to people or property.
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It is impossible for the seller to exempt himself from liability under section 12 of the Sale of Goods Act.
impose
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Some states already have enacted laws that impose civil liability for failure to report.
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Because of these difficulties, governments might decide to impose strict liability for compensation on the practitioners of in vitro fertilisation.
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States are increasingly enacting laws imposing liability for failure to report on those mandated to file child abuse reports.
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And the question of efficiency, whether imposing such liability would reduce accidents or contribute to a more efficient use of resources.
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Such liability will be all the more possible in states that explicitly impose liability by statute, such as Michigan and Montana.
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Each of the three non-contractual areas of law imposing duties and liabilities is considered below.
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It imposes legal liabilities on a person who has acted carelessly.
incur
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Suggested approach An employer can incur tortious liability in respect of his employees in one of three ways.
limit
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Hence a director of a company may stand to lose financially even though the company has limited liability .
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Countries around the world limit the liability of investors and signal this special favor with certain abbreviations and designations.
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They unanimously held that on its wording it limited the sellers' liability to the cost of replacing the seed.
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The most important legal aspect of the corporation is its limited liability .
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But if kind is interpreted more narrowly, then it will have the effect of limiting the defendant's liability .
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The limited liability and perpetual life characteristics of the corporation make this form of organization almost mandatory for large firms.
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The remaining type of clause is that which limits liability by reference to an overall monetary figure.
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Wilson has signed into law a bill limiting liability suits filed by injured skateboarders.
meet
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It is fully insured to meet potential liabilities .
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Liquidity: ratios designed to measure the ability of the firm to meet its short-term liabilities as they come due. 3.
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It can, therefore, be seen that the first test which the pursuer must meet is in relation to liability .
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On 11 February 1987 the plaintiffs succeeded in raising a sufficient sum to meet the liabilities and the receivers were discharged.
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The plaintiffs were able to raise sufficient moneys to meet their liabilities and the receivers were discharged.
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Scheme 2 is a closed scheme, with sufficient assets to meet its liabilities .
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Normally, one only meets a non-cumulative several liability where it is annexed to joint liability.
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For example, an exgratia payment is not automatically treated as meeting any liability stemming from the basic award.
pay
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The tax credit which accompanies a dividend matches the basic rate liability but the trustees pay additional rate tax of 10%.
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Secondly, that liability to pay can only arise if the company goes into liquidation.
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Clause 75 defines liability to pay as an individual liability that is dependent on the relationship that persons have with dwellings.
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Can a landlord exclude liability to pay compensation by means of an express term in the lease?
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He said he believed the planning option was considered informally, but rejected because of the liability to pay compensation.
protect
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One reason for this may be a desire to protect from criminal liability men whose conduct is not universally regarded as criminal.
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It is to protect the insured against liability for the accidental death or injury to some one other than his employee.
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It was held that the hotel could not rely on the notice to protect it against liability .
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Exclusion of liability for breach of implied terms does not protect against liability for breach of an express term.
provide
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This endorsement provides liability cover for persons visiting the home in connection with the policyholder's work.
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Do religious beliefs provide exemption from liability for child abuse?
reduce
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There are, however, two factors which might negate or reduce liability .
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The losses suffered during the start-up phase of a business can be used to reduce the tax liabilities of the owners.
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Answer guide: Reduce a liability , the loan, and reduce the asset bank.
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Many high-income people can reduce their income tax liabilities very substantially by availing themselves of this loophole.
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Even though incomplete, that disclosure would be sufficient to reduce their liability in law.
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Approaches were made to lenders with a view to agreeing improvements in their procedures which would reduce the liabilities of the Compensation and Indemnity Funds.
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For many pensioner couples, this should have the happy result of reducing their tax liability .
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Answer guide: Reduce the asset bank and reduce the liability accruals.
restrict
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Policy factors which restrict liability in negligence cases do not apply in intentional torts.
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Clauses which seek to exclude or restrict liability for misrepresentation are regulated by s3 of the Misrepresentation Act 1967.
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Sections 2-3 are expressly restricted to legally enforceable liabilities .
EXAMPLES FROM OTHER ENTRIES
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In those days, a politician's wife who did not hold traditional views could be a liability .
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The bank realized that the dispute was becoming a serious liability in doing business
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The product that was once so popular is now a liability to the company.
EXAMPLES FROM CORPUS
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Fearing liability , Fresno, Calif., told volunteers to stop cleaning streets.
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It also figures in the rules governing the legal liability of public authorities.
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North West Anglia Health Authority admitted liability .
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The annual tab for direct medical liability costs is about $ 7 billion, but indirect costs are much greater.
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The moral of these cases is that journalists can not avoid liability for defamation merely by avoiding the naming of names.
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This liability would be payable even if the venture failed, and all the capital were lost.
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Two approaches to clauses which purport to exclude liability for breach of fiduciary duty are discernible.