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Absolute 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 absolute liability may be required to compensate injured parties (by providing restitution).

It is also known as a strict liability or a no-fault liability.



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Finance, as a field of knowledge, is substantially wide-ranging and virtually encompasses everything in the realm of corporate finance, financial management, ...
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