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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The compensation regime I am imagining is a comprehensive automaker enterprise liability regime.
(159.) See, e.g., MacCourt & Bernstein, supra note 3, at 521 (arguing that enterprise insurance is not "practical or reflective of reality"); see also supra notes 46 and 122 (arguing that the biggest threat to physician autonomy is enterprise liability).
enterprise liability to corporate groups in bankruptcy).
Lastly, the idea of bonded limited liability is supported by the tort concept of enterprise liability and the insurance principle of risk retention.
Part II then reviews the history of proposals for enterprise liability and the reasons those proposals were not adopted.
HARPER ET AL., HARPER, JAMES AND GRAY ON TORTS [section]14.3 n.19 (1986) ("That such loss distribution, based in effect on enterprise liability, would usually be preferable to the determination of compensation by reference to fault, has been widely recognized for years.").
The effects of enterprise liability can be manifold.
Within the modern law of torts, strict liability ideas find their fullest and most distinctive expression in the theory of enterprise liability. (30) The theory of enterprise liability asserts: (1) that accident costs should be internalized by the activity responsible for them; and (2) that accident costs should be both dispersed--not concentrated--and distributed among the participants in the activity responsible for them.
Enterprise liability seems to resolve some of the problems in a country such as the United States where the threat of malpractice looms more than in other nations.
Without proof of product identification, the plaintiff asked the court to invoke the doctrines of market share liability, concert of action, and enterprise liability. In particular, she sought to invoke these theories on evidence that the defendants or their predecessors-in-interest marketed essentially all of the lead pigment used in lead-based paint sold in the United States between 1917 and 1972.
Strict liability would involve "enterprise liability"--imposing liability on manufacturers merely because their products have caused harm without requiring that the products be unreasonably dangerous.
(192) This section discusses these theories using the term "Enterprise Liability (EL)" to encompass hospitals, insurers, and managed care and health maintenance organizations (MCOs, HMOs).

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