Limited liability

A liability limitation is the contractually agreed or statutory reduction of liability or scope of liability of a Party or of a tortfeasor. The decrease is effected in relation to the apportionment of liability, the law prescribing the law for performing the contract, unless other arrangements have been made.

Limitations of liability are often made ​​in the terms and conditions that are part of a (purchase) contract under certain circumstances. The possibilities are limited, however, by law here. If the liability there mistakenly very limited or even excluded, occur in non-merchants the most customer-friendly provisions of the Civil Code (BGB ) in their place.

Limitations of liability and disclaimers may also be agreed in individual contracts.

In Germany, the liability for lenders in the Civil Code is limited to intent and gross negligence, § 599 BGB. Also for lost property and gifts of each page or Schenker liable only for intent and gross negligence, § § 968, 521 BGB.

The liability of children for damage that they cause is according to § § 828, 829 BGB is excluded or limited.

Basically, the buyer of a vicarious agents must comply with § 831 BGB for this stick, unless he can according to § 831 sentence 2 BGB to prove to have the assistants properly selected and instructed.

In a limited liability company ( GmbH) the limitation of liability for the capital stock is considered, but only if the manager or managers act this with the diligence of a prudent businessman. For violations Managing may be civilly committed to compensation from the creditors. (see also: managing directors liability )

In a limited partnership ( KG ), the liability of a part of the shareholders, the limited partners are limited. The other shareholders ( partners) have unlimited liability with all its assets, including the private assets.

Legal entities such as limited liability companies are independent and can also readily associate of other limited liability companies, general partnerships ( OHG ) and KGs be. Although at least a portion of the shareholder is personally liable with all its assets in the latter case, this is not restricted to the GmbH as a partner in the limited liability company itself, the partners are liable to the shareholder -GmbH. Here constructions can result OHG mbH etc. as the GmbH & Co KG or Ges. However, the company ( company name ) must clearly indicate possible limitations of liability of the shareholders then already.

In the construction of industrial plants consist incalculable liability risks. Therefore, can be found in plant contracts regularly reaching disclaimers.

In the Internet often called disclaimer with the aim of a disclaimer or limitation of liability be used. About the lack of efficacy see there.