Assumption


Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia, Wikipedia.
Related to Assumption: Assumption of Mary

Assumption

Becoming responsible for the liabilities of another party.

Assumption

The act of taking on the liabilities of another property. For example, if one is a co-signer on a loan and the borrower defaults, the co-signer assumes the responsibility to repay the loan.

Assumption

A method of selling real estate where the buyer of the property agrees to become responsible for the repayment of an existing loan on the property.

Unless the lender also agrees, however, the seller remains liable for the mortgage.

References in periodicals archive ?
It traces the origins and growth of the Assumption the past 200 years: from the opening of Assumption's first boarding school in 1842 with eight students in the 5th arrondissement of Paris, to its spread to 35 countries.
For example, are your actions based on the assumption that you teach a discipline, such as biology, philosophy, and education, or do you assume that you teach students who are human and adults, and if they are adult humans, they most likely are a person, and if they are a person, they have the potential and capacity to learn?
Brian Kelly, an Assumption grad from the class of 1983 and now head football coach at the University of Notre Dame, made remarks via video.
Effective staffs will start to define the implicit assumptions and work assumption management as soon as possible after the decision is made.
What assumptions do you find most employees focus on?
Building a freeing assumption begins with the question, "What might you be assuming that is stopping you in some way?
Pension systems in California are operating on assumptions of a 7.
Its CFO, Chris Nagel, CPA, told the JofA in the April article on Black-Scholes that he preferred the lattice model because of its exceptional ability to capture assumptions about options' term and volatility.
The practitioner is also expected to evaluate the reasonableness of any assumptions or representations used in constructing the opinion's conclusions.
In addition, other important teaching objectives can also be emphasized, such as how to interpret scatterplots and correlation, evaluating the tenability of assumptions, writing null and alternative hypotheses associated with hypothesis tests, and reporting and interpreting confidence intervals and p-values.
Thai-Tang's job as head of Advanced Product Creation is to go beyond the platform capability studies that determine how many derivatives can be built off a single base, beyond the external market data within which new market segments hide, and reconcile the business equation with the hardware assumptions and the design assumptions with the bill of process.