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Meaning of “admission of liability” in the English Dictionary

"admission of liability" in Business English

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admission of liabilitynoun [C or U]

uk   us   (plural admissions of liability) LAW
a ​statement made by a ​person or ​company saying that they are ​legallyresponsible for something that has ​harmed someone: A ​companyspokeswoman insisted the ​agreement did not ​represent any ​admission of ​liability. The ​settlement was made without any ​admission of ​liability.
(Definition of admission of liability from the Cambridge Business English Dictionary © Cambridge University Press)
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