Personal Liability
/ˈpɜːrsənəl laɪəˈbɪləti/
Definitions
- (n.) The legal obligation of an individual to be held responsible for debts or actions, potentially extending to personal assets beyond business liabilities.
The business owner faced personal liability for the company's unpaid debts.
- (n.) The exposure of an individual to lawsuits or claims based on their direct actions or negligence.
Doctors carry personal liability for malpractice if they fail to meet the standard of care.
Related terms
See also
Commentary
Personal liability often distinguishes individual responsibility from corporate or limited liability, making it a key concept in risk assessment and contract drafting.
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.