Limited liability contracts
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 236 U.S. 278 - George Pierce Company v. Wells Fargo & Company · 1915Most cited · 149 citing opinions
That contracts for limited liability, when fairly made, do not contravene the settled principles of the common law preventing the carrier from contracting against its liability for loss by negligence. Such contracts, when fairly made, did not contravene public policy, upon the principle that the contract did not relieve against the carrier's negligence, but limited the amount that might be recovered for such negligence.