no liability

== English == === Alternative forms === no-liability === Pronunciation === === Noun === no liability (uncountable) (Australia, business, law) A form of limited liability that may be used by mining companies, under which the shareholders may pay a company debt by surrendering shares in lieu of money. ==== Usage notes ==== Often used attributively, as in a no liability company. The term or its abbreviation NL must by law be included in the company name. No liability differs from ordinary limited liability in the treatment of part paid shares: ordinarily a company can sue shareholders for the balance (when called to pay); with no liability the shareholders can surrender their shares instead of paying. ==== Derived terms ==== NL ==== Related terms ==== limited liability