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You cannot have a residential street with no speed limit. Too much chance of someone speeding, losing control and killing a pedestrian or driving into a living room.
A person can still be guilty of negligence even without a maximum speed limit.
People tend to drive at speeds which they find comfortable and safe, regardless of the posted limit. Imposing strict limits simply creates an environment in which drivers are reducing their focus on the road and potential hazards in order to look for speed limit signs and watch the speedometer. This increases the likelihood of accidents.