Search
Generic filters
Filter by Categories
Accounting
Banking

Finance




No-Fault Liability


A type of liability that arises unintentionally (i.e., without fault) or that is looked at without regard to fault. Typically, it applies when the actions of an individual or firm are considered to be contrary to public policy even when such actions may not have been intentional or caused due to negligence. A firm found to have violated no-fault liability may be required to compensate injured parties (by providing restitution).

It is also known as a strict liability or a absolute liability.



ABC
Finance, as a field of knowledge, is substantially wide-ranging and virtually encompasses everything in the realm of corporate finance, financial management, ...
Watch on Youtube
Remember to read our privacy policy before submission of your comments or any suggestions. Please keep comments relevant, respectful, and as much concise as possible. By commenting you are required to follow our community guidelines.

Comments


    Leave Your Comment

    Your email address will not be published.*