liability

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liability

[līəbil′itē]
Etymology: L, ligare, to bind
1 something one is obligated to do or an obligation required to be fulfilled by law, usually financial in nature.
2 the amount of money required to fulfill a financial obligation.
Health insurance The potential for paying claims based on use of an insured service
Malpractice All character of obligation, amenability, and responsibility for an act before the law

liability

Malpractice All character of obligation, amenability, and responsibility for an act before the law. See Corporate liability, Current liability, Limits of liability, Malpractice Product liability, Professional liability, Strict liability.

liability (līəbil´itē),

n the state of being bound by law or justice to do something or to make good something; legal responsibility.

liability

financial or legal responsibility.
References in periodicals archive ?
9344 or the Juvenile Justice and Welfare Act of 2006 with the noble intention of protecting them from criminal liability.
3) Gabriel Hallevy, "'I, Robot - I, Criminal' - When Science Fiction Becomes Reality: Legal Liability of AI Robots committing Criminal Offenses" (2010) 22 Syracuse Science & Technology L Report 1; Gabriel Hallevy, "The Criminal Liability of Artificial Intelligence Entities - From Science Fiction to Legal Social Control" (2010) 4:2 Akron Intellectual Property J 171; Gabriel Hallevy, "Unmanned Vehicles: Subordination to Criminal Law under the Modern Concept of Criminal Liability" (2011) 21:2 J L Info & Sci 200.
the government to rest criminal liability on the fiction that the
The court stated that "[t]here is not, and never has been, any assertion of the criminal liability of corporations in international law," and that "no international judicial tribunal has so far recognized corporate liability, in a civil or criminal context on the basis of a violation of the law of nations or customary international law.
Because the New York Central standard of corporate criminal liability inherently involves punishing the innocent, it does not advance any of the legitimate purposes of punishment.
concerning both the doctrine of corporate criminal liability and its
With federal law C-45, which amends the Criminal Code to increase the potential for criminal liability for workplace injuries or fatalities, now in effect, companies now more than ever are being held more accountable for safety oversights.
Both of these provisions subject PCA employees to civil and criminal liability.
In addition, the Privacy Act of 1974 and IRC section 6103, which prevent unlawful disclosure of taxpayer information, also apply to PCAs, potentially subjecting their employees to civil and criminal liability.
Halligan urges officers, directors and top managers to involve themselves actively with trade secret management and security to avoid both civil and criminal liability, as well as shareholder derivative suits for breach of the fiduciary duty to protect intellectual property assets.
With these cases in mind, let's look at the fiduciary duties, civil and criminal liability of a board.