unlimited liability - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “unlimited liability”

unlimited liability

noun [U]
 
 
LAW, FINANCE
a situation in which the shareholders of a company are responsible for all of its debts if the company fails financially: unlimited liability for sth Partners have unlimited liability for the firm's debts. →  Compare limited liability
(Definition of unlimited liability from the Cambridge Business English Dictionary © Cambridge University Press)
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