Director Liability
/dɪˈrɛktər ˌlaɪəˈbɪləti/
Definitions
- (n.) The legal responsibility of a corporate director for breaches of fiduciary duty, negligence, or statutory violations in managing a company.
The director liability arose after the company suffered financial losses due to mismanagement.
Forms
- director liability
Related terms
See also
Commentary
Director liability often depends on demonstrating breach of duty or negligence; indemnification clauses and insurance can influence risk exposure.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.