Limited liability/unlimited liability

Japanese: 有限責任･無限責任 - ゆうげんせきにんむげんせきにん

When all of the debtor's assets are used as security for the debt, it is called unlimited liability, and when the security for the debt is limited to a certain item or a certain amount of the debtor's assets, it is called limited liability. The debtor's liability is unlimited in principle, and limited liability is limited to cases specifically permitted by law. The latter has two types: (1) Real limited liability This refers to cases where liability is limited to specific items in the debtor's assets, and there are cases where the debtor is liable only with specific items (e.g., Article 607 of the Commercial Code, Article 20, paragraph 2 of the Pawnbroker Business Act, etc.) and cases where the debtor is liable only with specific assets (e.g., Article 922 of the Civil Code, Article 19 of the Trust Act, etc.).

Source: Heibonsha World Encyclopedia, 2nd Edition Information

Japanese:

債務者の全財産が債務の引当て(担保)となっている場合を無限責任，債務の引当てとなるものが，債務者の財産中のある物または一定額に限られる場合を有限責任という。債務者の責任は無限責任が原則であり，有限責任はとくに法律が認めた場合に限られている。後者には次の2種がある。(1)物的有限責任　責任が債務者の財産中の特定のものに限定される場合をいい，債務者が特定物のみをもって責任を負う場合(例えば，商法607条，質屋営業法20条2項等)と特定財産のみをもって責任を負う場合(例えば，民法922条，信託法19条等)とがある。

出典　株式会社平凡社世界大百科事典第２版について　情報

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