Contractual Liability

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Definition: Contractual Liability

Contractual Liability
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Full Definition of Contractual Liability

The liability assumed when entering into a contract in which either party to the contract fails to perform in accordance with the terms, otherwise known as a breach of contract. A promise to perform or deliver a service that may be enforced through adjudication.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/contractual-liability/
Modern Language Association (MLA):
Contractual Liability. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 23, 2024 https://payrollheaven.com/define/contractual-liability/.
Chicago Manual of Style (CMS):
Contractual Liability. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/contractual-liability/ (accessed: April 23, 2024).
American Psychological Association (APA):
Contractual Liability. PayrollHeaven.com. Retrieved April 23, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/contractual-liability/

Definition Sources

Definitions for Contractual Liability are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.