If a limitation or exclusion is determined to be unreasonable, that term will be unenforceable, leaving your business potentially open to unlimited liability
and losses if you're found to be liable (the complete opposite intention of the term).
These are some of the reasons postulated for the reluctance of presidents of unlimited liability
public companies refusing to relinquish office at the end of their tenure.
is limited by collection challenges
'If sued for negligence and other wrongful acts not amounting to a crime, all shareholders and directors of closed corporations are exposed to unlimited liability
. They can lose everything to judgment creditors, more than the assets they have invested in the family business.'
Lombard Odier is the unlimited liability
holding company that owns the main operating entities of the Lombard Odier Group.
In the case of a partnerships, only limited partners have limited liability while general partners have unlimited liability
The Indictment alleges that the Accused BoA3/4o MarkiA, in the capacity as founder and director with unlimited liability
and responsible person in the legal entity NAMEKS d.o.o.
Many Names (investors) lost fortunes as their contracts of unlimited liability
were enforced and their deposited funds were "drawn down" to pay for the huge losses.
However, the advent of Limited Liability Partnerships (LLPs), and concerns about the unlimited liability
of individual partners for the liabilities of a firm, has led to an increasing number of firms moving to alternative business structures.
The potential for "unlimited liability
" under DOL rules is generating significant levels of anxiety among advisors, worry about being found liable for investment losses due to unintentional or unforeseeable events.
The Debt Recovery Tribunal should be the adjudicating authority with jurisdiction over individuals and unlimited liability
Briones and Rockoff find "considerable agreement that lightly regulated banking was a success in Scotland." They note that some writers have given at least partial credit to "unlimited liability
, or the presence of large privileged banks acting as quasi-central banks." After 1810, however, the three chartered banks (the only banks with limited liability) were no larger than the nonchartered banks (which had unlimited liability
) and did not play any special supervisory roles, while the system continued to perform successfully.