Liability Incurred - Law Dictionary Search Results
Liability incurred
Matched in: Term Liability incurred
Debts and liabilities
Debts and liabilities, incurred under contracts enter into by him in s. 19(5) as a matter of construction, legal expenses property
Indemnity
indemnity. [Con-tract Act, s. 124 (Chapter VIII)] Means (1) A duty to make good any loss, damage, or liability incurred by another. (2) The right of an injured party to claim reimbursement for its loss, damage, or liability
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liability
Matched in: Term liability
Bankruptcy debt
Bankruptcy debt, in relation to a bankrupt, means (1) any debt or liability to which he is subject at the commencement of the bankruptcy or (b) any debt or liability to … subject after the commencement of the bankruptcy (including after his discharge from bankruptcy) by reason of any obligation incurred before commencement of the bankruptcy, R (Steele) v. Birmingham City Council, (2006) 1 WLR 2380 (CA). Bankruptcy debt,
party
Code"] accommodated party : a party to an instrument for whose benefit an accommodation party signs and incurs liability on the instrument : a party for whose benefit an accommodation is made accommodation party : a party … Commercial Code"] accommodated party : a party to an instrument for whose benefit an accommodation party signs and incurs liability on the instrument : a party for whose benefit an accommodation is made accommodation party : a
Firm
same effect as a decree in favour of or against the partners. While the firm is incurring a liability it can be assumed that all the partners were incurring that liability and so the partners remain liable … has the same effect as a decree in favour of or against the partners. While the firm is incurring a liability it can be assumed that all the partners were incurring that liability and so the partners
Any Liability
Matched in: Term Any Liability
Current liabilities
demand or within a period of twelve months from the date they are incurred; and includes any current liability which is suspended under s. 18FB. [Industries (Development and Regulation) Act, 1951 (65 of 1951), s. 3 (ac)]
Mandate
expenses and charges reasonably incurred in the execution of the mandate, and also to indemnify him for his liability on all contracts which arise incidentally in the proper discharge of his duty. The contract of mandate may
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