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Die Möglichkeit der Geltendmachung weitergehender Haftungen

English translation: The right to assert further liabilities

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Die Möglichkeit der Geltendmachung weitergehender Haftungen
English translation:The right to assert further liabilities
Entered by: Martin Wenzel
Options:
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- Include in personal glossary

18:23 Feb 17, 2009
German to English translations [PRO]
Law/Patents - Law: Contract(s)
German term or phrase: Die Möglichkeit der Geltendmachung weitergehender Haftungen
Die Möglichkeit der Geltendmachung weitergehender Haftungen, insbesondere Pönalezahlungen oder Konventionalstrafen oder entgangenen Gewinn ist ausgeschlossen

Contingent comprehensive liability claims, especially penalty payments, default penalties or loss of profit shall be excluded.
Martin Wenzel
Germany
Local time: 22:51
The right to assert further liabilities
Explanation:
It means the 'possibility' of entering further liability-based claims. Haftungen can also be exposures, but doesn't fit well into the context.
Selected response from:

xxxAdrian MM.
Local time: 22:51
Grading comment
Thank you, and this is the moment when I will start targeting my questions...
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2The right to assert further liabilitiesxxxAdrian MM.
1 -1Potential claims for contingent liabilities
andres-larsen
Summary of reference entries provided
Konventionalstrafe
Kim Metzger

  

Answers


31 mins   confidence: Answerer confidence 1/5Answerer confidence 1/5 peer agreement (net): -1
Potential claims for contingent liabilities


Explanation:
Potential claims for contingent liabilities, specifically penalty payments (fines) or conventional sanctions or lost income are hereby excluded

sources:

Risk Management & Liability Guidebook - But, if a client specifically identifies certain items it expects to be covered in an ...... The imposition of criminal sanctions, fines, or penalties for ..... Potential and Actual Claims, including identifying past and pending ...... firms expressly exclude coverage on a transaction that involves payment of a ...
www.nysscpa.org/prof_library/lrm/whole_book.htm - 432k -

SEC Info - Coinstar Inc - 8-K - For 4/30/06 - EX-2.1 - in relation to any matter, all liabilities, losses, claims, ..... conduct of claims and payments) shall apply to limit or exclude, ...... 1.4.1, provide for all liabilities whatsoever (other than contingent or potential liabilities which are .... penalty, or sanction on the part of any Group Company or which would ...
www.secinfo.com/d14D5a.v31Ve.d.htm - 574k -

SALLY BEAUTY HOLDINGS, INC. - SBH Quarterly Report (10-Q) EXHIBIT 2.7 - The liability of the Warrantors in respect of any claim under the Warranties ...... There is no outstanding Indebtedness or liability (actual or contingent) between ..... of or actual or potential liability under Health and Safety Legislation. ..... 2.6 No rents, interest, annual payments or other sums of an income ...
sec.edgar-online.com/sally-beauty-holdings-inc/10-q-quarterly-report/2007/05/10/Section20.aspx -



andres-larsen
Venezuela
Local time: 16:51
Native speaker of: Native in EnglishEnglish
PRO pts in category: 20

Peer comments on this answer (and responses from the answerer)
disagree  Kim Metzger: You've pulled something out of the air and backed it up with g-hits that show there's such a thing as continent l. Where's the connection to the source term? And "die Möglichkeit der Geltendmachung"? How is weitergehender Haftungen contingent liabilities?
17 mins
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4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
The right to assert further liabilities


Explanation:
It means the 'possibility' of entering further liability-based claims. Haftungen can also be exposures, but doesn't fit well into the context.

Example sentence(s):
  • We held in Prince that the Form 870-AD is neither a closing agreement nor is it a compromise12 and that the government may assert further liability ...

    Reference: http://bulk.resource.org/courts.gov/c/F2/355/355.F2d.995.69....
xxxAdrian MM.
Local time: 22:51
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 572
Grading comment
Thank you, and this is the moment when I will start targeting my questions...

Peer comments on this answer (and responses from the answerer)
agree  Kim Metzger
1 hr
  -> Thanks!

agree  Derek Gill Franßen
15 hrs
  -> Danke!
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Reference comments


28 mins
Reference: Konventionalstrafe

Reference information:
Liquidated damages, not contract penalty

A Konventionalstrafe is a Vertragsstrafe

See comment by Anne Gillard-Groddeck regarding the preference of liquidated damages over contract penalty:

"However if one of the parties wants to argue that the clause is unduly onerous and not binding he will argue (in court) that it is a "penalty clause", in which case, should he be successful, the court will assess the damages to be awarded. It is the content of the clause and not what it is called which decides whether it is a "penalty clause", but putting such words into a contract written in English is a little odd because it would mean to the "English" reader that the parties do not intend their agreement to be enforceable."

http://www.proz.com/kudoz/german_to_english/law:_contracts/7...


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Note added at 1 hr (2009-02-17 19:55:22 GMT)
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What is a contingent liability?
6. The accounting standard definition of a contingent liability is as follows:
• a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence of one or more uncertain future events not wholly within the entity's control; or
• a present obligation that arises from past events but is not recognised because it is not probable that a transfer of economic benefits will be required to settle the obligation; or the amount of the obligation cannot be measured with sufficient reliability.
7. However, the particular contingent liabilities addressed in this section are essentially legally enforceable undertakings given in the form of a guarantee or indemnity which would bind the Scottish Executive into providing the resources in the event of the guarantee or indemnity maturing; or a letter or general statement of comfort which could be considered to impose a moral financial obligation on the Executive. In this section the term also covers undertakings to meet costs resulting from a guarantee or indemnity which will inevitably arise in the future even though the amount and timing may be unknown.

http://www.scotland.gov.uk/Topics/Government/Finance/spfm/co...

Kim Metzger
Mexico
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1209
Note to reference poster
Asker: Thank you, Kim.

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