limited liability acts

Statutes which restrict liability to a less amount than the common law would allow. Federal statutes limiting the liability of a shipowner for loss, damage, or injury, enacted for the purpose of encouraging the investment of capital in the building and navigation of ships, by enabling the owners of American ships to compete upon equal terms of liability with foreign shipowners. 48 Am J1st Ship § 567.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • Limited liability — is a concept whereby a person s financial liability is limited to a fixed sum, most commonly the value of a person s investment in a company or partnership with limited liability. A shareholder in a limited company is not personally liable for… …   Wikipedia

  • limited liability of shipowner — See limited liability acts …   Ballentine's law dictionary

  • limited liability partnership — see partnership Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. limited liability partnership …   Law dictionary

  • Limited liability company — This article is about a U.S. specific business entity form. For limited liability companies in the United Kingdom, see Limited company. For a general discussion of entities with limited liability, see Corporation …   Wikipedia

  • Limited Liability Partnerships Act 2000 — Infobox UK Legislation short title=Limited Liability Partnerships Act 2000 parliament=United Kingdom Parliament long title=An Act to make provision for limited liability partnerships statute book chapter=2000 c. 12 introduced by= territorial… …   Wikipedia

  • limited liability — See limitation of liability acts …   Black's law dictionary

  • limited liability partnership — (LLP)    A type of partnership that offers protection to each partner from personal liability for negligent acts committed by any other partner or by an employee not under his or her direct control. LLPs are recognized in most states, but are… …   Business law dictionary

  • Uniform Limited Liability Company Act — The Uniform Limited Liability Company Act (ULLCA), often mistakenly referred to as the LL corporation . The ULLCA includes its 2006 revision called the Revised Uniform Limited Liability Company Act, is a uniform act (similar to a model statute),… …   Wikipedia

  • liability — li·a·bil·i·ty /ˌlī ə bi lə tē/ n pl ties 1: the quality or state of being liable 2: something for which one is liable: as a: a financial obligation: debt tax liability the bonds …   Law dictionary

  • Limited partnership — A limited partnership is a form of partnership similar to a general partnership, except that in addition to one or more general partners (GPs), there are one or more limited partners (LPs).The GPs are, in all major respects, in the same legal… …   Wikipedia

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