A legal liability is a term that describes the accountability and responsibility of a person or an organization connected to any civil or criminal law. A paperwork that states the terms and conditions driving the legal liability is officially known as a legal liability statement. Such a statement is generally prepared at the onset of any business deal, financial transaction, residential agreement, and similar other cases where either party is legally liable for their activities.
Being a legal document of high importance, a legal liability statement must always be prepared by a professional in this field. All the points pertaining to legal liability must be clearly stated in the statement. Use of words must also be intelligent so as to make the document clear, concise and unambiguous.
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Sample Legal Liability Statement
Legal Liability Statement
The below is a Legal Liability Statement issued by the ABC Group of Companies to the XYZ Construction Agency on the 25th day of May, 2012. This liability statement holds good for the construction work at the location of 12/3 Upper Stream Valley, New York. This construction work is supposed to construct a shopping complex at the designated plot.
- The construction agency is given the ownership of the stated land only to construct a shopping complex and not be put to any other use.
- The sole rights of selling the shops in the said complex lie with the ABC Group of Companies. The construction agency shares no ownership rights.
- The construction agency will be solely deemed responsible for the safety measures to be taken in the proposed shopping mall.
- Safety of the construction workers and any people, however connected to this project, lies with the construction agency. Compensation of any kind, as stated by the state governing bodies, is to be paid by the construction agency only.