Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

limited liability&no liabily

What is the difference between the expressions “limited liability” and “no liability‘’?

1 Answer

  • 1 decade ago
    Favorite Answer

    My suggestion is as follows:

    In accounting, “liability” means anything that a person owes to someone. In Chinese, it’s「負債 / 債務」.

    “Limited” is an adjective (形容詞) which describes something that is not infinite. Things in a limited scope are within border and with restricted content. It’s 「有限 / 有限制的」in Chinese.

    “Limited liability” & “no liability” are used in accounting. They are usually relevant to a business formed by partnership. A partner with “limited liability” means “when a business needs to pay for its liability, the partner should be responsible for the amount which is equal to or less than the amount he/she has invested in the business. The amount he/she pays is finite. At the same time, the other amount is totally not relevant to him/her.” Therefore, it’s 「有限債償」。

    A person with “no liability” means “he/she bears no responsibility for paying the amount owed”. It’s 「無責任債償」.

    Source(s): My View
Still have questions? Get your answers by asking now.