16:46
wtf
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
personal liability
Read a random definition: general cargo
A quick definition of personal liability:
Personal liability means being responsible for something and having to pay for it if it goes wrong. It can be a legal or financial obligation that you have to fulfill. For example, if you break something that belongs to someone else, you have personal liability to pay for it. It is different from limited liability, where you are only responsible for a certain amount of money and not your personal assets.
A more thorough explanation:
Personal liability refers to the legal responsibility that an individual has for their actions or omissions. This means that they can be held accountable for any harm or damage caused to another person or their property, and may be required to pay compensation or face legal consequences.
For example, if a person causes a car accident due to their negligence, they may be held personally liable for any injuries or property damage that result from the accident. Similarly, if a business owner fails to maintain safe premises and a customer is injured as a result, the owner may be held personally liable for the customer's injuries.
Personal liability can also extend to financial obligations, such as debts or taxes owed. In this case, a person may be required to pay back the amount owed or face legal action.