The phrase 'cap on liability' is perfectly correct in written English.
It is a legal term that is used when a court or other body sets a limit on the amount of money a person or company can be held liable for if they are found to be legally responsible for something. For example: "The court set a $2 million cap on liability in the case, ruling that the company could not be held responsible for any additional damages beyond this amount."
Separate legislation already introduced would raise a company's cap on liability to $10 billion.
It would provide cash and loans and, most significant, put a cap on liability from lawsuits.
Mike Lee, the United States Senate candidate in Utah, who said he favors repealing the progressive income tax and supports a low cap on liability for oil companies that cause extensive environmental damage.
Also on Tuesday, the company's chief executive, Tony Hayward, told Senator Bill Nelson, Democrat of Florida, that the spill would clearly cause more than $75 million in economic damage, the current cap on liability for drilling accidents.
The cap on liability for care costs, set at £72,000 for people above state pension age, is due to be introduced next year under the Care Act, following recommendations of the Dilnot commission in 2011.
The cap on liability for care costs, set at £72,000 for people above state pension age, was scheduled to be introduced next April under the Care Act, following the recommendations of the Dilnot commission in 2011.
The Energy Fair group is arguing that the cap on liabilities for nuclear accidents is technically a subsidy and therefore illegal under EU law – and is now taking the case to the European commission.
A study for the European Commission published last month recommended a cap on liabilities to discourage such a catastrophic outcome.Critics of the big four argue that auditors are well paid for the risks that they run, and that legal pressures are the only way to keep their feet to the fire, ensuring high-quality work.
Only the three biggest banks would be affected by the size limit, and the cap on liabilities would only affect an estimate nine institutions or so.
New building is stymied by trial lawyers' opposition to caps on liability in government-backed "terror insurance".
