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TeachMeFinance.com - explain Double liability historic definition... Double liability -- When the liability is for a sum double the original amount. The holder of bank stock who has paid in full for it still is liable up to the amount of its face value in case of the inability of the bank to pay its depositors and other creditors in full. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.