contingent liability financial definition of contingent liability. contingent liability finance term by the Free Online Dictionary.

Contingent Liability

A liability that a company may have to pay, but only if a certain future event occurs. Usually, a contingent liability refers to the outcome of a lawsuit: that is, the company may have to pay a significant amount of money if it loses the lawsuit. Contingent liabilities are recorded under accounts payable; their existence may also affect the share price.

contingent liability

An obligation that may result, but is not likely to result because the event causing the obligation is improbable. For example, the award from a lawsuit against a firm is a contingent liability of the defendant if there is little likelihood the plaintiff will recover the award.

contingent liability

A liability that is not currently a liability but may become one upon the happening of some future event.If a father guarantees the student housing lease of his son,then the son is liable for the rent but the father may become liable if the son defaults. Other common contingent liabilities are guarantees of the debts of others,potential adverse judgments in litigation,and currently contested tax liabilities or audits. Lenders sometimes request a list of all contingent liabilities when evaluating a borrower's financial strength.

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balance sheet conditional commitment Contingent Asset cosigner Impegno collaterale di secondo grado liability Pasivo contingente Passif conditionnel Passivo contingente vicarious liability			NW Trading has a contingent liability of pounds 470,000 for rate charges which are under review. Wirral port firm remains buoyant; Private business by Daily Post (Liverpool, England) Similarly, after a provision or contingent liability is recognized, the measurement of this obligation may be different under IFRS than under U. Legal considerations in the proposed transition to International ... by Heffes, Ellen M. / Financial Executive 338-7(e), Example 1 (satisfaction of contingent liability results in P's taking the liability into account as additional adjusted grossed-up basis)). Assumption of liabilities in taxable asset and Sec. 338(h)(10) ... by Gruidl, Nick / The Tax Adviser			Contango Contas a pagar Contas a receber Contas de Grupo Contate Contencao voluntaria das exportacoes Conti di Gruppo contiguous Contingency contingency clause Contingency Graph Contingency Order Contingent Contingent Annuity Contingent Asset Contingent Beneficiary Contingent claim Contingent Conversion Trigger Contingent Convertible Contingent Convertible Bond Contingent Deferred Sales Charge Contingent Deferred Sales Load Contingent Guarantee Contingent Immunization Contingent Issue contingent liability contingent offer Contingent Order Contingent pension liability Contingent Rent contingent takedown option Contingent Value Right Contingent Voting Power Contingent Voting Rights Contingente di importazione Continuation Pattern continuing care retirement community continuing operations Continuous Compounding Continuous Net Settlement continuous occupancy clause Continuous Online Trading System continuous operations clause Continuous Random Variable Continuous Trading Conto capitale Conto corrente Conto corrente bancario Conto di custodia Conto spese contour map			Contingent Convertible Bonds Contingent Convertibles Contingent Convertibles Contingent damages contingent deed held in trust Contingent deferred sales charge Contingent deferred sales charge Contingent deferred sales charge Contingent deferred sales charge Contingent Deferred Sales Charges Contingent deferred sales load Contingent deferred sales load Contingent Deferred Sales Loads contingent effects Contingent estate contingent event Contingent fact Contingent fact Contingent fact Contingent fee Contingent fee Contingent fee Contingent Guarantee Contingent Guarantees Contingent immunization Contingent Immunization Strategy contingent interest contingent issue Contingent Issues Contingent liabilities contingent liability Contingent Liability Program Contingent Liability Record Contingent Liability Report contingent nurse contingent offer contingent on contingent on Contingent order Contingent Orders Contingent owned equipment Contingent pension liability Contingent Preferred Stock contingent probability Contingent propositions Contingent propositions Contingent propositions Contingent propositions Contingent propositions Contingent remainder Contingent Rent Contingent Rents contingent takedown option Contingent Termination Liability Contingent Time Element Contingent truth Contingent truth contingent upon contingent upon Contingent Upon Finding Suitable Housing Contingent use