Secondary Liability - Law Dictionary Search Results
secondary liability
Matched in: Term secondary liability
liability
Matched in: Term liability
Indemnity
Reimbursement or compensation for loss, damages, or liability in tort; esp., the right of a party who is secondary liable to recover from the party who is primarily liable for reimbursement of expenditures paid to a third
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Contributory
to be shareholders but have been shareholders within the twelve months previously, and who are liable in a secondary degree. A shareholder may sometimes avoid liability by transfer to a pauper. See Re Discoveries Finance Corporation, (1910)
A and B lists
who are ceased to be but had been shareholders in preceding twelve months. Their liability to contribute is secondary
Surety and guarantor
guarantor, are both answerable for debt, default, or miscarriage of another but liability of guarantor is, strictly speaking, secondary, and collateral, while that of surety is original, primary and direct. In case of suretyship there is but
Trust
the trustees, for then a consideration is not essential. An agreement founded on a meritorious consideration (i.e., a secondary valuable consideration, as in favour of a wife or children) will not be executed as against the settlor … any relief provided by the Act'see ss. 4, 8, 61 (power of Court to relieve a trustee from liability for breach of trust), reproducing s. 3 (1) of the (English) Judicial Trustees Act, 1896 (59 & 60
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