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Legal SignificancePlay
In law, liability comes with consequences. It means owing a duty that, if unmet, can lead to lawsuits or penalties. SlideIf they prove negligence, you might face legal liability.
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Not Always NegativePlay
'Liability' sounds negative but in legal terms, it simply refers to a bound duty or obligation, not a fault. SlideAs a director, she accepted her liability for the company's actions.
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Beyond MoneyPlay
Liability isn't just about financial responsibilities; it covers any legal responsibility, like safety obligations. SlideThe landlord has liability for tenant's safety.