liability

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Liability

A financial obligation, or the cash outlay that must be made at a specific time to satisfy the contractual terms of such an obligation.

liability

An obligation to pay an amount in money, goods, or services to another party. The balance sheet lists the liabilities. Also called debt. Compare asset. See also contingent liability, current liability.

Liability.

In personal finance, liabilities are the amounts you owe to creditors, or the people and organizations that lend you money. Typical liabilities include your mortgage, car and educational loans, and credit card debt.

When you figure your net worth, you subtract your liabilities, or what you owe, from your assets. The result is your net worth, or the cash value of what you own.

In business, liabilities refer to money a company owes its creditors and any claims against its assets.

liability

a claim on the resources of an individual or business in respect of monies borrowed. A liability is thus a form of DEBT, for example a bank overdraft or LOAN, a building society MORTGAGE. See ASSET, BALANCE SHEET.

liability

a claim on the resources of an individual or business in respect of monies borrowed. A liability is thus a form of DEBT, for example, a bank overdraft or LOAN, a building society MORTGAGE. See ASSET, BALANCE SHEET.

liability

(1) A debt or obligation. (2) A potential loss,such as a poorly trained,poorly supervised real estate agent who may be a liability.

References in periodicals archive ?
If liability deflection occurs via corporate criminal liability, then why might corporations not actively lobby against it?
While the criminal liability provision in the OSH Act focuses on enforcement against the employer rather than an individual, DOJ will consider related crimes against individuals, such as falsification and tampering.
Corporations are subject to criminal liability, and part of that 'deal' is that they have certain basic rights.
Having already set out the framework for holding AI liable for subjective mens rea offenses, negligence offenses, and strict liability offenses, Hallevy next addresses the applicability of general defenses to AI criminal liability.
breaking the law, strict criminal liability statutes mistakenly use a
This analysis highlights the privileged status of "The Law" and its role in constraining proposals to expand criminal liability to the boardroom.
The United States imposes significant criminal liability in addition to those administrative and civil regulations.
It is not the function of the board of the TSB to assign fault or determine civil or criminal liability.
Judge Hironori Sato said the defendant ''showed a lack of intention to pay taxes and bears grave criminal liability indeed.
They added it would then be up to a jury to decide whether there was criminal liability on the 55-year-old's part in the fatal crash.
It won't apportion blame or assign criminal liability, but will issue a report later this year.