contractual liability

contractual liability

Liability assumed by a party under a contract by express language, implication, or operation of law; includes not only the obligation of a party to perform in accordance with the contract but also such other obligations as may be assumed, e.g., those arising from indemnification or hold harmless clauses.
References in periodicals archive ?
I have something called contractual liability in my policy that covers me for everything in the indemnity agreement.
Insured contract coverage typically arises as an exception to the contractual liability exclusion where, for example, a project owner asserts a claim for contractual indemnity against a general contractor for losses the owner incurs because of bodily injury or property damage caused by the negligence of the general contractor or its subcontractors.
During the morning session, Unlocking the Mystery of Insureds, Additional Insureds and Contractual Liability, Falvo explored the differences between insureds and additional insureds through the lens of the contractual liability exclusion.
He covers contractual liability, the definitions and classifications of contracts, arbitration clauses, penalty clauses, defects, burden of proof, good faith, contractual liability, remedies in case of non-performance, power of attorney, damages, the relationship between contract law and the law of property, and many other related subjects.
However, as more physicians become part of larger networks to deliver new models of care, their contractual liability spreads, he said.
It's one of the six enumerated things that qualify as an "insured contract," which is itself an exception to the Contractual Liability exclusion.
Our aircraft insurance broker told us that this was the worst thing he's seen in four decades in the business and that the aircraft owner can't buy any insurance that will cover him for the contractual liability he's taken on by signing Avidyne's agreement.
Iraqi law permits the parties to agree to limit or exclude the debtor from contractual liability arising from the failure to perform its obligations except the liability that arises from his/her fraud or gross error.
Hub Transportation is focused on delivering insurance and risk management services to address liability and insurance coverage gaps caused by the transportation industry's challenges when facing driver retention, regulatory compliance and contractual liability issues.
What claims personnel also have to know about additional insured coverage and contractual liability is whether the tort liability assumed is permitted by law.
Civil contractual liability is the duty of a debtor's obligation arising from a contract to repair the damage caused to his creditor by means of not performing lato sensu of the stipulated service (Vintila, 1999: 16).