Statutory Liability is a legal term indicating the liability of a party who may be held responsible for any action or omission due to a related law that is not open to interpretation.[1]
Although the term is a generic one and can apply to almost any field, it is typically used in finance as a reference in cases such as real estate transactions, shareholder obligations, or management behavior. It may also cover occupational health and safety laws, environmental laws, and employment laws. In some nations, such as New Zealand and Australia, business can purchase statutory liability insurance to protect from the fines and legal fees that can result from this breach.[2][3][4]
^"Loading..." South Dakota Legislature. Retrieved 2023-12-30.
^"statutory liability". Business Dictionary. Archived from the original on 2012-09-28. Retrieved 2013-01-11.
^Jones, Kevin (May 4, 2009). "Statutory liability insurance and OHS penalties". Safety At Work Blog.
^"Statutory Liability". Investopedia.
and 23 Related for: Statutory liability information
StatutoryLiability is a legal term indicating the liability of a party who may be held responsible for any action or omission due to a related law that...
common law, statutory law, or both. Common law liability arises from negligence, breach of contract, and fraud. Statutory law liability is the obligation...
A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through...
while offering liability protection similar to that of a Limited liability company or Partnership. Since the year 2000, Delaware statutory trusts have increasingly...
of intent (mens rea) include statutory rape and felony murder. In tort law, strict liability is the imposition of liability on a party without a finding...
Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment...
In India, the Statutory liquidity ratio (SLR) is the Government term for the reserve requirement that commercial banks are required to maintain in the...
A statutory corporation is a government entity created as a statutory body by statute. Their precise nature varies by jurisdiction, but they are corporations...
Other Personnel. In addition, all ex-Regular personnel retain a "statutoryliability for service" and are liable to be recalled (under Section 52 of the...
limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore...
necessarily statutory. As another example, in England common law liability of a landowner to guests or trespassers was replaced by the Occupiers' Liability Act...
The limited liability limited partnership (LLLP) is a relatively new modification of the limited partnership. The LLLP form of business entity is recognized...
Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company whose shares may be freely sold and traded to the public (although...
21 August 2013. "Green Paper: The Role, The Position and the Liability of the Statutory Auditor Within the European Union" (PDF). European Union. Retrieved...
infringing acts carried out by another party. The US has statutorily codified secondary liability rules for trademarks and patents, but for matters relating...
(and similar to its limited company counterpart) but where the legal liability of the members or shareholders is not limited: that is, its members or...
with capital of over ¥500m, liabilities of over ¥2bn and/or publicly traded securities are required to have three statutory auditors, and must also have...
Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public...
exist. A limited liability company: "A company—statutorily authorized in certain states—that is characterized by limited liability, management by members...
safety issues). Under this approach, the wording of a statutory offence specifically attaches liability to the corporation as the principal or joint principal...
private liability in tort were described by Lord Browne Wilkinson in X v Bedfordshire County Council [1995] 3 All ER 353 (HL). 1. Breach of a statutory duty...
several other strict liability sexual offenses when the complainant is under 16, but 13 years old or older. § 3122.1. Statutory sexual assault. Except...
[ɡəˈzɛlʃaft mɪt bəˌʃʁɛŋktɐ ˈhaftʊŋ]), literally 'company with limited liability' (abbreviated as GmbH [ɡeːʔɛmbeːˈhaː] in Germany, Switzerland and Liechtenstein...
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