unlimited liability Meaning in the Cambridge English Dictionary Cambridge dictionaries logo
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Meaning of “unlimited liability” in the English Dictionary

"unlimited liability" in Business English

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unlimited liabilitynoun [U]

uk   us   LAW, FINANCE
a ​situation in which the ​shareholders of a ​company are ​responsible for all of its ​debts if the ​companyfailsfinancially: unlimited liability for sth Partners have ​unlimitedliability for the firm's ​debts.
(Definition of unlimited liability from the Cambridge Business English Dictionary © Cambridge University Press)
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