liability

(redirected from Manufacturer's Liability)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.

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 ?
Based on the IRS's new position on co-op advertising, the ISP paper may need to be revised to provide that the manufacturer's liability is fixed as qualified sales of the manufacturer's products occur.
For the purposes of the analysis conducted here, the crucial variation is the extent to which a state's tort standards place reasonable limits on the extent and scope of a manufacturer's liability.
9) Beginning with the "principle that a manufacturer's duty of design and construction extends to producing a product that is reasonably fit for its intended use and free of hidden defects that could render it unsafe for such use," (10) the Larsen court focused on the meaning of "intended use" when determining the scope of the manufacturer's liability.

Full browser ?