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Premises liability deals with the breach of duties owed by an owner or occupier of real estate to protect people on or off the premises from dangerous conditions and defects in the property, including hazards from activities conducted, or things kept on, the property.
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I agree with the answer provided by legalres above.
Stated another way, "premises liability" is a term used to describe an area of the law that holds an owner or occupier of land, and the buildings on the land, responsible (i.e., "liable") for injuries or losses that occur on the land or in the buildings that are on the land (i.e., the "premises").