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[mass noun] The condition by which shareholders are legally responsible for the debts of a company only to the extent of the nominal value of their shares.
- ‘Gradually the courts came to recognise limited liability for omissions where a duty to act could be implied, the accused failed to act and the prohibited result ensued.’
- ‘The message of limited liability in relation to asbestos was conveyed to about 25 analysts, who attended a one-day presentation at Belgard Castle last week.’
- ‘One of the main advantages of forming a company is that the company will only have a limited liability for any debts incurred by the business.’
- ‘The company may not really be a registered corporation entitled to limited liability.’
- ‘The policies included limited liability, banking and insurance regulation, bankruptcy law, fixed exchange rates, and property rights.’
- ‘It should also put an end to limited liability for shareholders.’
- ‘Registration causes the society so registered to be a body corporate, able to sue and be sued in its own name, with perpetual succession and enjoying limited liability.’
- ‘An argument was that you could not do that; you have already sued the master - it is limited liability.’
- ‘A limited company affords him the protection of limited liability under company law;’
- ‘Those who persistently fail to discharge their statutory obligations in this respect can expect to be disqualified, for an appropriate period of time, from using limited liability as one of the tools of their trade.’
- ‘Those who make use of limited liability must do so with a proper sense of responsibility.’
- ‘Owner enjoys limited liability for business debts and fringe benefits are deductible as business expenses.’
- ‘This combines the advantages of limited liability for the shareholders of a company with the taxation advantages of an ordinary partnership.’
- ‘The company's separate legal personality is a general feature of its legal status and is not confined to the areas of limited liability and transferable shares.’
- ‘This decision needs to be balanced against the protection of limited liability.’
- ‘Limited partners who participate in the control of the business may lose their limited liability.’
- ‘The protection of limited liability is comforting.’
- ‘Most insurers moved towards limited liability by forming companies under the companies Acts of the mid-19th century.’
- ‘The new limited-liability laws made limited liability mandatory for all corporations.’
- ‘It is hardly surprising that Irish auditors are lobbying to change the requirements on limited liability for their audit practices.’
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