- statutory liability
- See liability created by statute.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Ballentine's law dictionary. Anderson, W.S.. 1998.
Statutory Liability — A legal term meaning that someone can be held responsible for a certain action or omission because of a related law that is not open to interpretation. This is a generic term that can apply to any field, not just finance, but in finance it may… … Investment dictionary
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
statutory authority — in the law of tort or delict, a defence to a claim that the defendant is acting under statutory authority. It is a defence even to nuisance, which is seen in England as a form of strict liability. If, however, an act could be carried out under… … Law dictionary
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liability created by statute — A liability created by a statute which discloses an intention, express or implied, that from disregard of the statutory command, a liability for damages will arise which would not exist but for the statute. Schmidt v Merchants Despatch Transp. Co … Ballentine's law dictionary
statutory surplus — The surplus of an insurance company determined by the accounting treatment of both assets and liabilities ( liability) as established by state statutes. Bloomberg Financial Dictionary … Financial and business terms
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