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Assumed Liability

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Assumed Liability
1. See: Contractual Liability.

2. See: Assumed Bond.


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The lawmakers asked GAO to find out the federal government's risk if it allowed intermediate blends of ethanol, such as gasoline that contains 12 percent ethanol, and assumed liability for damage done to vehicles and non-auto engines.
For contingent liabilities, P will generally include the assumed liability in basis only as the liability is satisfied.
As part of Pharmacia's spin-off agreement, the new Monsanto assumed liability for certain obligations if Solutia failed to perform them.
 
 
 
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