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Cross liablity is where there are two named parties under the same insurance poliy. One may not make a claim against another and the overall limit is the same total amount.
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∙ 15y ago
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Actually what means cross liability?
Cross liability, sometimes referred to as "Joint Liability"is an instance where more than one person or entity is considered liable for a loss or injury.
How does cross liability work?
Cross liability works as a severability of interest. These are clauses in commercial insurance contracts which means the policy applies separately to each insured party.
Insurance Cross Liability what does it mean and give some examples?
I think iit means the participation in aliability I think iit means the participation in aliability
What do you mean by internal and external liability of the company?
internal liability mean that company will pay salary, so salary is internal liability, and the company will pay interest to bank it is external liability.
What does limited liability mean to corporations mean?
When an investor's liability is limited only to the initial investment
What does cross-liability interest clauses in insurance contract mean?
This is when two parties in a contract cannot sue each other over the same event. They indemnify each other.
What does cross liability interest clauses in insurance contract mean?
This is when two parties in a contract cannot sue each other over the same event. They indemnify each other.
What does uncapped liability mean?
A limitation (a cap) of liability clause is a contractual provision that restricts the amount of damages a client can recover from a company. Uncapped liability is a liability without a limit.
What does LLC mean?
Limited Liability Company.
What does liability in consequence mean of negligence mean?
i have no idea but then again I am dumb
What does Class LLC mean?
Limited Liability Corporation.
Mean of liability and ten examples?
a liability is what the business owes e.g. loans, bank overdraft, owing a supplier for inventory
