Meaning of “admission of liability” in the English Dictionary

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"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 legally responsible for something that has harmed someone:

A company spokeswoman 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)