Enterprise Liability - Law Dictionary Search Results
Home Dictionary Name: enterprise liabilityenterprise liability
enterprise liability see liability ...
liability
liability pl: -ties 1 : the quality or state of being liable 2 : something for which one is liable: as a : a financial obligation : debt [tax ] [the bonds are liabilities] compare asset contingent liability : an amount that may or may not be owed depending on the outcome of a contingency (as a cosigner's default on a loan) fixed liability : a liability (as a bond or mortgage) that does not mature for at least one year from the date incurred or from a given date b : accountability and responsibility to another enforceable by civil remedies or criminal sanctions [ for injuries caused by their product] absolute liability : strict liability in this entry alternative liability : joint liability imposed on multiple tortfeasors when there are simultaneous tortious acts (as defective manufacture of parts of a wheel by different manufacturers) and uncertainty as to which act was the proximate cause of an injury compare concert of action civil liability : liability imposed under c...
Enterprise
Enterprise, means a person or a department of the Government, who or which is, or has been, engaged in any activity, relating to the production, storage, supply, distribution, acquisition or control or articles or goods, or the provision of services, of any kind, or in investment, or in the business of acquiring, holding, underwriting or dealing with shares, debentures or other securities of any other body corporate, either directly or through one or more of its units or divisions of subsidiaries, whether such unit or division or subsidiary is located at the same place where the enterprise is located or at a different place or at different places, but does not include any activity of the Government relatable to the sovereign functions of the Government including all activities carried on by the departments of the Central Government dealing with atomic energy, currency, defence and space.Explanation.--For the purposes of this clause,--(a) 'activity' includes profession or occupation;(b)...
joint enterprise
joint enterprise 1 : joint venture 2 : an undertaking of two or more parties for a common purpose in which each shares a common interest and an equal right of control (as of a vehicle) NOTE: In regard to a tort involving such an enterprise, a third party may impute negligence of one party (as a driver) to another in the enterprise. ...
Enterprising
Having a disposition for enterprise characterized by enterprise resolute active or prompt to attempt as an enterprising man or firm...
Foreign enterprise
Foreign enterprise, a 'foreign enterprise' is an enterprise situate in a foreign country having been created or registered in accordance with the law of such country, Petron Engineering Construction P. Ltd. v. Central Board of Direct Taxes, AIR 1989 SC 501: (1989) Supp 2 SCC 7: (1988) Supp 3 SCR 1058. [Income Tax Act, 1961, s. 80-O]...
Enterprise
That which is undertaken something attempted to be performed a work projected which involves activity courage energy and the like a bold arduous or hazardous attempt an undertaking as a manly enterprise a warlike enterprise...
Limited liability
Limited liability. At Common Law every person is liable, upon his contracts, up to the whole amount of his estate, and every partner is so liable upon all the contracts of the partnership. So extensive a liability being apt to prevent persons from engaging in business as partners, the statutes authorizing the construction of railways, etc., have always limited the liability of each shareholder to the amount of the shares held by him. Similar limitations, extending in some cases to double the amount of shares held, have also long been found (though not universally) in the charters of incorporated banks and insurance companies.Companies Acts.--Under the Companies Acts, limited liability means that the members are not liable beyond the unpaid-up part (if any) of the nominal amount of the shares in respect of which they are registered in the books of the company. When a share has been fully paid up, no further liability exists. As to shares which have not been fully paid up, see CONTRIBUTO...
comprehensive general liability insurance
comprehensive general liability insurance : liability insurance for a business that usually covers losses from products liability, premises liability, and some liabilities that the insured assumes under a contract (as a lease) ...
Contingent liability
Contingent liability, as a liability which, by reason of something done by the person bound, will necessarily arise or come into being if one or more of certain events occur or do not occur, Glenister v. Rowe (CA), (1999) 3 WLR 716.Contingent liability, must arise out of an existing or underlying liability, no such liability can exist simply by reason of a claim for costs made in a writ, summons, application or notice of appeal to the judge or to the Court of Appeal, Glenister v. Rowe (CA), (2000) Ch LR 76....
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