Liabilities - Page 3 - Law Dictionary

Liability of legal representative signing

Liability of legal representative signing, a legal representative of a deceased person who signs his name to a promissory note, bill of exchange or cheque is liable personally thereon unless he expressly limits his liability to the extent of the assets received by him as such. (Negotiable Instruments Act, 1881 (26 of 1881), s. 29)...

Discharged from liability

Discharged from liability, total extinction of the liability, East and West Steamship Co. v. S.K. Ramalingam Chettiar, AIR 1960 SC 1058: (1960) 3 SCR 820....

Liability

Liability, anything for which a person is liable, Webster American Dictionary, p. 843.In U.K., a government servant is not personally liable on contracts which he executes in his official capacity unless he has intention to make himself personally liable, Commentary on the Constitution of India, Durga Das Basu, Vol. L, p. 112.The term 'liability' is of large and comprehensive signification, and when construed in its usual and ordinary sense, it expresses the state of being under obligation in law or in justice, First National Bank Ltd. v. Seth Sant Lal, AIR 1959 Punj 328 (330). (Companies Act, 1913, Sch. I, Table A, regn 28)...

Liability of such persons

Liability of such persons, the proper meaning of the words 'the liability of such person' in Order 21, Rule 50(2) is that primarily the question to try would be whether the person against whom the decree is sought to be executed was a partner of the firm, when the cause of action accrued, but he may question the decree on the ground of collusion, fraud or the like but so as not to have the suit tried over again or to raise issues between himself and his other partners, Gambhir Mal Pandiya v. J.K. Jute Mills Co. Ltd., AIR 1963 SC 243 (250): (1963) 2 SCR 190....

Multi-State co-operative society with limited liability

Multi-State co-operative society with limited liability, means a society having the liability of its members limited by its bye-laws to the amount, if any, unpaid on the shares, respectively, held by them or to such amount as they may, respectively, thereby undertake to contribute to the assets of the society, in the event of its being wound up. [Multi-State Co-operative Societies Act, 2002 (39 of 2002), s. 3 (q)]...

With any limited liability and in force

With any limited liability and in force, the phrase means a statutory policy under the old Act with the limit prescribed therein which was valid immediately before the commencement of the new Act. The words are not employed to limit the liability of an insurance company to the amount specified in the policy by virtue of the provisions of s. 95(2) of the old Act either for a period of four months or for a lesser period during which the policy is valid, National Insurance Co. Ltd., v. Beharilal, (2000) 7 SCC 137 (142). [Motor Vehicles Act, 1939, s. 95(2)]...

Liabilities - Law Dictionary Search Results

several liability

solidary liability

strict liability

vicarious liability