It is intended to reduce the cost of new construction and ensure that any project using federal dollars is not subject to New York law mandating "absolute liability
" on the building owners and contractors.
In practice, banks will assume absolute liability
to pay the beneficiary based on a valid claim under an LC and such an obligation has encouraged beneficiaries to accept the LC as a method of payment throughout the years.
Hailed as the pioneer of judicial activism, Bhagwati, during his tenure as a Supreme Court judge, introduced the concepts of public interest litigation (PIL) and absolute liability
to the Indian judicial system.
strict or absolute liability
. Strict liability is liability without
Comparing Strict Absolute Liability
to Scienter-Based Liability.
Through its formula for calculating the deduction, which involved adjustments based on historical redemption rates, the company had demonstrated to the court's satisfaction "the existence--as of year's end--of both an absolute liability
and a near-certainty that the liability would soon be discharged by payment" (slip op.
The remaining pipeline companies under NEB jurisdiction will have absolute liability
limits set through regulations.
The law does not impose absolute liability
on the operator of a water park, health club, activity park or other recreational facility whenever a customer is injured, however.
The Paris Convention establishes a system of absolute liability
. (105) According to this system, the operator is liable for damage caused by a nuclear incident in a nuclear installation or involving nuclear substances coming from such installations.
Legally, the concept of absolute liability
will not usually apply.
It imposes a nondelegable, absolute liability
on owners and general contractors for construction-related injuries, even though the liable party does not perform the work, supervise the work, or employ the injured worker.
"It's at the point where it's absolute liability
on the employer and [plaintiffs' attorneys] have found ways so that if you trip over your shoelace and fall, the owner is liable.