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 exemption from criminal liability herein established does not include exemption from civil liability, which shall be enforced in accordance with existing laws.
In this book, Hallevy has provided a good starting point for the conversation of whether criminal liability could be applied to AI within our current criminal law framework.
the law forbids by limiting criminal liability to someone who
Pollack & Annie Wartanian Reisinger, Lone Wolf or the Start of a New Pack: Should the FCPA Guidance Represent a New Paradigm in Evaluating Corporate Criminal Liability Risks?
But Bittle's analysis reveals that discursive formations also played an important role in shaping the opportunities available to politicians seeking to blunt efforts to increase corporate criminal liability and, perhaps, also shaped legislators' thinking.
30) In addition to criminal liability, the William Wilberforce Trafficking Victims Reauthorization Protection Act of 2008 refers for the first time to corporations, stating that the U.
A criminal justice system based exclusively on a retributivist theory of punishment would expressly exclude such vicarious criminal liability.
corporate criminal liability is its effectiveness as a necessary tool
Without it officers of the company could incur a personal criminal record, as under Section 228 of the Companies Act 2006 they have a criminal liability.
Content explains the federal government's power, the limits on that power, the investigative tools available to the government, and carries information regarding civil and criminal liability for actions involving electronic surveillance, and applicable laws relevant to prosecutions or other litigation stemming from an NSI.
But advocate depute Dorothy Bain argued at the Court of Criminal Appeal in Edinburgh: "Dissolution does not extinguish pre-existing criminal liability incurred by the firm.