Define: Limited Liability

UK Accounting Glossary

Definition: Limited Liability


Quick Summary of Limited Liability


A phrase used to indicate that those having liability in respect of some amount due may be able to invoke some agreed limit on that liability.



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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/limited-liability/
Modern Language Association (MLA):
Limited Liability. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. February 28, 2020 https://payrollheaven.com/define/limited-liability/.
Chicago Manual of Style (CMS):
Limited Liability. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/limited-liability/ (accessed: February 28, 2020).
American Psychological Association (APA):
Limited Liability. PayrollHeaven.com. Retrieved February 28, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/limited-liability/

Definition Sources


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

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

This glossary post was last updated: 23rd December 2018.