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 ?
The doctrine of provocation mandates that one who kills due to provocation is entitled to a reduction in criminal liability from murder to manslaughter, so long as the provocation resulted in a loss of self-control on the part of the killer.
Indeed, one of the leading cases on corporate criminal liability, United States v.
corporate criminal liability is its effectiveness as a necessary tool
"Tayo po ay signatory sa UN Convention of the Rights of the Child, at tayo nag-promise na hindi natin bababaan iyong ating minimum age of criminal liability," she said.
But lowering the age of criminal liability may not be the solution on curbing crimes committed by minor-aged offenders.
In the recent years, however, amendments were introduced to some Egyptian laws instituting criminal liability of companies in limited circumstances.
That incorrect assumption is flatly refuted by the history of the Rome negotiations and the structure of the Rome Treaty itself, both of which expressly and solely address criminal liability. The Second Circuit also wrongly assumes that this purported international consensus continues to be accepted widely in customary international law.
Introducing criminal liability of legal persons in most of contemporary
Over the last few years, a handful of high-profile cases have resulted in criminal liability. In 2013, for example, a safety manager was sentenced to six-and-a-half years in prison after being found guilty of providing false and misleading information about injuries and underreporting the number and severity of injuries at three nuclear facilities.
He explains that although we may never create AI that fully imitates the human mind, criminal liability can still be imposed on machines that are acting under their own agency and not merely being used as tools.
aIn Bulgaria, criminal liability is personal and not collective.