Owner liability definition

Owner liability means personal liability for a debt, obligation or liability of a domestic or foreign business or nonprofit corporation or unincorporated entity that is imposed on a person:
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Owner liability means personal liability for a debt,
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Owner liability means the liability of a shareholder, member, trustee, partner, limited partner or other owner of an organization for debts of the organization, including the responsibility to make additional capital contributions to cover such debts.
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Examples of Owner liability in a sentence

  • Cancel this process at any time prior to its execution of a definitive contract and such cancellation will be without any Owner liability.

  • As added by P.L.2-2002, SEC.6. IC 32-21-5-11 Owner liability for errors in formSec.

  • According to Kregel (2014) and Rezende (2015) DBs can, by reducing financial fragility, help solve the “two masters’” dilemma on regulation: assuring a safe and secure payment system versus fostering development (Minsky, 1994).

  • The prompt payment requirements herein shall, in no way, create any contractual relationship or obligation between the Owner and any Subcontractor, Supplier, or any third-party, nor create any Owner liability for the Contractor's failure to make timely payments as required.

  • The Owner liability for cancellation will be limited to payments made to us.

  • Any complaint, claim or action brought against the Contractor for failing to observe or comply with any law, ordinance, or regulation shall be the sole responsibility of the Contractor and shall in no way extend to or expose the Owner liability and the Contractor shall indemnify and hold harmless the Owner from any and all such complaints, claims, or actions.

  • Owner liability under Iowa Code section 321.493 does not apply to a party that only owns the trailer involved in an accident.

  • Owner liability (i.e., indirect liability) under CERCLA is relatively uncontroversial; parents are liable for cleanup costs as owners under the standard veil piercing doctrine in corporate law.

  • Owner liability for failure of operator to comply with 48 traffic-control indications.

  • Each Contractor shall procure and maintain, at his own expense, until his work is accepted by the Owner, liability insurance as hereinafter specified.


More Definitions of Owner liability

Owner liability means personal liability for a debt, obligation, or liability of an entity that is imposed on a per- son:
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Owner liability means personal liability for a debt, obligation, or liability of an entity that is imposed on a person:
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Owner liability means personal liability for a debt, obligation, or liability of a domestic or foreign business or nonprofit corporation or unincorporated entity that is imposed on a person by either of the following: (a) Solely solely by reason of the person’s status as a shareholder, partner,
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Related to Owner liability

  • Other Liabilities means any and all liabilities of any type whatsoever (including, but not limited to, judgments, fines, penalties, ERISA (or other benefit plan related) excise taxes or penalties, and amounts paid in settlement and all interest, taxes, assessments and other charges paid or payable in connection with or in respect of any such judgments, fines, ERISA (or other benefit plan related) excise taxes or penalties, or amounts paid in settlement).

  • Product Liabilities means any Liability arising out of, relating to or resulting from actual or alleged harm, injury, damage or death to persons in connection with the use of any product (including in any clinical trial or study);

  • Defect Liability Period in relation to a work means the specified period from the date of COMPLETION CERTIFICATE upto the date of issue of FINAL CERTIFICATE during which the CONTRACTOR stands responsible for rectifying all defects that may appear in the works executed by the CONTRACTOR in pursuance of the CONTRACT and includes warranties against Manufacturing/Fabrication/ Erection/Construction defects covering all materials plants, equipment, components, and the like supplied by the CONTRACTOR, works executed against workmanship defects.