assumed liability
1liability — li·a·bil·i·ty /ˌlī ə bi lə tē/ n pl ties 1: the quality or state of being liable 2: something for which one is liable: as a: a financial obligation: debt tax liability the bonds …
2assumed liabilities — ➔ liability * * * assumed liabilities UK US noun [plural] ► ACCOUNTING, FINANCE ASSUMED DEBT(Cf. ↑assumed debt) …
3Liability — A financial obligation, or the cash outlay that must be made at a specific time to satisfy the contractual terms of such an obligation. The New York Times Financial Glossary * * * liability li‧a‧bil‧i‧ty [ˌlaɪəˈbɪlti] noun liabilities PLURALFORM …
4liability — 1) In the broad legal sense, responsibility or obligation. For example, a person is liable to pay his debts, under the law; 2) In accounting, any debt owed by an individual or organization. Current, or short term, liabilities are those to be paid …
5liability — n. 1) to accept, acknowledge, assume, incur, take on a liability 2) full; limited liability 3) a liability for (we assumed full liability for our children s debts) * * * [ˌlaɪə bɪlɪtɪ] acknowledge assume incur limited liability take on a… …
6joint liability — see liability 2b Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. joint liability …
7several liability — see liability 2b Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. several liability …
8Vicarious liability — This article is about vicarious liability in private litigation; for vicarious liability in criminal law, see Vicarious liability (criminal). Vicarious liability is a form of strict, secondary liability that arises under the common law doctrine… …
9joint and several liability — see liability 2b Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. joint and several liability …
10Vicarious liability (criminal) — The legal principle of vicarious liability applies to hold one person liable for the actions of another when engaged in some form of joint or collective activity. For the civil law system, see vicarious liability. For liability attributed to a… …
