What does uncapped liability mean?

Answer A limitation (a cap) of liability clause is a contractual provision that restricts the amount of damages a client can recover from a company. Uncapped liability is a liability without a limit.

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What does tax liability mean?

A tax liability is simply the amount of taxes owed by an entity to the government. It is calculated by applying the relevant tax rate to the entity's taxable assets.Source:"Taxes Made Simple: Incom... Read More »

What does cross liability mean?

Cross liablity is where there are two named parties under the same insurance poliy. One may not make a claim against another and the overall limit is the same total amount.

What does liability insurance mean?

Liability insurance refers to any policy that protects the owners from liability if they are sued when others are injured by their products or actions. Types of liability insurance include malpract... Read More »

What does net tax liability mean according to the irs?

The Internal Revenue Service defines net tax liability as the amount of money a person or company owes in taxes, less any claim from Form 720 Schedule C that reduces net tax liability.References:IR... Read More »