The liability assumed when entering into a contract in which either party to the contract fails to perform in accordance with the terms, otherwise known as a breach of contract. A promise to perform or deliver a service that may be enforced through adjudication.
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contractual liability - Liability imposed on an entity by the terms of a contract.
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Contactual liability, is exactly as it sounds.A contract is a legal binding agreement between two or more persons. When you sign, or agree to the terms of a...read ...
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Definition of contractual liability: Obligation assumed by any contracting party under the terms of a contract.
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What Is Contractual Liability Insurance?. Contractual liability in an insurance coverage that is contained in a Commercial General Liability or CGL policy.
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