principal liability

USAGE SUMMARY

The phrase "principal liability" is correct and usable in written English.
It can be used in legal or financial contexts to refer to the primary responsibility or obligation of a party in a transaction or agreement. Example: "In this contract, the principal liability for any damages falls on the contractor."

✓ Grammatically correct

Science

News & Media

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

1 human-written examples

This analysis shows the principal liability associated with cloning the ligation products directly in yeast, when compared to libraries prepared by cloning into E. coli [ 6, 11, 12].

BMC Genomics

Human-verified similar examples from authoritative sources

Similar Expressions

57 human-written examples

Cable 10MEXICO83, for example, states that "the GOM's (Government of Mexico's) inability to halt the escalating numbers of narco-related homicides in places like Ciudad Juarez and elsewhere... has become one of Calderon's principal political liabilities as the general public has grown more concerned about citizen security".

Huffington Post

"Similarly, the proposed rule is not intended to affect other existing bases of liability for principal executive officers and principal financial officers," the agency added.

Forbes

Mr. Gherardi said Mr. Minkoff was a principal in the limited liability corporation that now owns the deed to the house and the surrounding 13 acres.

The New York Times

And legislation pending in Congress as part of President Bush's education package could expand the practice by giving teachers and principals broad protection from liability for disciplinary actions.

The New York Times

Better yet, in June, Rennert convinced U.S. Bankruptcy Judge Robert Gerber to okay a reorganization plan that approves the sale of assets and exempts the successor company, U.S. Magnesium, and its principals from previous legal liability.

Forbes

The financing heading represent various claims on future cash flows or sources of future cash flows which may include cash proceeds from the issue of shares, cash payments to redeem/acquire the enterprise's shares, cash proceeds from the issue of debentures, loans, cash repayments of loans, and cash payments by a lessee to repay principal of finance lease liabilities.

IFRS: A Quick Reference Guide A Quick Reference Guide

Negotiating a reduction in the mortgage principal would also generate tax liability.

Huffington Post

Concrete Installation is an Oklahoma Limited Liability company, with principal offices located in Sulphur, Oklahoma.

Bplans

Company Summary Concrete Installation is an Oklahoma Limited Liability company, with principal offices located in Sulphur, Oklahoma.

Bplans

In addition to her liability for $500,000 in principal and $40,535 in interest, Ms. Chiesi agreed not to violate S.E.C. rules prohibiting her from engaging in fraudulent or deceptive practices including insider trading.

The New York Times

Expert writing Tips

Best practice

When discussing legal or financial agreements, clearly define who bears the "principal liability" to avoid ambiguity. For instance, specify whether it applies to the contractor, subcontractor, or the client.

Common error

Avoid confusing "principal liability" with "principle liability". "Principal" refers to the primary or main liability, while "principle" relates to a fundamental belief or rule. Ensure you're using the correct term to maintain clarity.

Linguistic Context

The phrase "principal liability" functions as a noun phrase that identifies the primary responsibility or obligation in a given situation, often within legal or financial contexts. As supported by Ludwig AI, the phrase is correct and usable in English.

Expression frequency: Common

Frequent in

News & Media

35%

Science

33%

Formal & Business

32%

Less common in

Encyclopedias

0%

Wiki

0%

Reference

0%

Ludwig's WRAP-UP

The phrase "principal liability" is a grammatically correct noun phrase commonly used in legal and financial contexts to denote the primary responsibility for an obligation or debt. Ludwig AI confirms its validity and usability. While alternatives like "main responsibility" or "chief accountability" exist, "principal liability" specifically highlights the legal aspect of the obligation. It's important to avoid confusion with "principle", which refers to a fundamental belief. The phrase sees frequent usage in news, science, and formal business domains, emphasizing its relevance in professional communications.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

key liability

Direct synonym using "key" to emphasize the importance.

major liability

Another direct synonym, using "major" to highlight the significance of the liability.

core liability

Indicates that the liability is fundamental or essential.

central liability

Highlights that the liability is at the heart of the matter.

main responsibility

Focuses on the duty or obligation rather than the legal aspect of liability.

greatest liability

This version emphasizes the extent or magnitude of the liability.

chief accountability

Emphasizes the responsibility for actions or outcomes, often in a management context.

primary obligation

Highlights the contractual or moral duty involved.

fundamental obligation

Stresses the basic and underlying nature of the obligation.

ultimate responsibility

Stresses the finality and non-delegable nature of the duty.

FAQs

How is "principal liability" used in legal contexts?

In legal contexts, "principal liability" refers to the primary or main responsibility for a debt, obligation, or wrongdoing. It indicates who is ultimately accountable for fulfilling the terms or rectifying the situation.

What's a good alternative to "principal liability"?

You can use alternatives like "main responsibility", "chief accountability", or "primary obligation" depending on the specific context.

How does "principal liability" differ from secondary liability?

"Principal liability" denotes the primary obligation, while secondary liability arises when someone else is responsible if the primary party fails to meet their obligations. Secondary liability is contingent upon the default of the "principal liability" holder.

Is "principal liability" the same as vicarious liability?

No, "principal liability" refers to direct responsibility, while vicarious liability involves holding one party responsible for the actions of another, such as an employer for an employee's negligence. They are distinct concepts in liability law.