contractual liability
Liability imposed on an entity by the terms of a contract. As used in insurance,
the term refers not to all contractually imposed liability but to the assumption
of the other contracting party's liability under specified conditions.
See also Contractual liability insurance;
Contractual risk transfer;
Hold harmless agreement;
Indemnitee;
Indemnitor.
Links for IRMI Online Subscribers Only:
CRT IV.B