Definitions for "Contractual liability"
coverage which provides bodily injury and property damage for occurrences arising out of the liability assumed by the insured under a specified contract.
Liability assumed by a party under a contract by express language, implication, or operation of law. A "hold harmless" clause.
A legal obligation voluntarily assumed under the terms of a contract, as distinguished from liability imposed by the law (legal liability)
If you sign a contract you are bound by the contract terms and conditions. If you fail to abide by the agreed conditions it may result in financial loss or criminal charges.
If you sign a contract you will end up being bound by the contracts specific terms and conditions - failure to do may incur financial or, in some circumstances, even criminal penalties.
A contractual obligation to pay damages for which another is legally liable.
Keywords:  contribution, lien
Contractual lien Contribution