Liability Assessment
/ˌlaɪəˈbɪləti əˈsɛsmənt/
Definitions
- (n.) The process of evaluating and determining the extent of legal responsibility or obligation, typically in tort, contract, or negligence cases.
The court ordered a liability assessment to establish the defendant's financial responsibility for the damages.
- (n.) An appraisal conducted by insurance or risk management to estimate potential legal exposure to claims or losses.
The insurer performed a liability assessment to understand the risks before underwriting the policy.
Forms
- liability assessment
- liability assessments
Related terms
See also
Commentary
Liability assessment is often a preliminary legal step useful to clarify responsibilities before litigation or settlement; precision in defining scope and standards is key in drafting related documents.
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.