Personal Liability
Defined in 2 dictionaries — Bouvier (1914), Black's (1910)
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
The statutory liability of stockholders of corporations by which they are held individually liable for the debts of the corporation. See Stockholders; Joint Stock Company.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
The liability of the stockholders in corporations, under certain statutes, by which they may be held individually responsible for the debts of the corporation, either to the extent of the par value of their respective holdings of stock, or to twice that amount, or without limit, or otherwise, as the particular statute directs.
Defined under Liable in Black's Law Dictionary.