What does Unlimited liability mean?
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Answer:
It's a type of investment in which a partner or investor can lose an unlimited amount of money.
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Other answers
Are you asking in regards to a business or an insurance underwriter? In business, unlimited liability means that the owner's personal assets can be used to settle the debts of a business. For example, let's say you own a business that delivers products to customers (pizzas). Your delivery driver was drunk and runs somebody over. The court awards $10 million to the victim but the insurance only pays $2 million. The victims can sue you for the remaining $8 million and take your house and personal assets under unlimited liability.
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