liability (noun)
91commercial liability insurance — UK US noun [U] INSURANCE, LAW ► insurance that pays a company s legal costs if someone takes legal action against them for injury or property damage: »A commercial liability insurance policy wasn t purchased until more than a year into the… …
92deferred liability — UK US noun [C] ► ACCOUNTING an amount included in a company s accounts for money that it owes, but that it will only pay back at a future date: » At the end of the life of the lease, the deferred liability will be zero …
93sole proprietor liability — UK US noun [U] LAW ► the legal responsibility of a business that is owned and operated by only one person: »A sole proprietor s liability for business debts is unlimited …
94strict liability — /ˌstrɪkt laɪəˈbɪləti/ (say .strikt luyuh biluhtee) noun Law liability regardless of fault, that is, by proving actus reus though not necessarily mens rea. Also, absolute liability …
95accrued liability — UK US noun [C] (plural accrued liabilities) ACCOUNTING ► ACCRUED EXPENSE(Cf. ↑accrued expense) …
96current liability — UK US noun [usually plural] ► FINANCE a payment that a company must make within 12 months: »If a company has current assets of $4 and current liabilities of $2, then its working capital is $2. »You work out a company s liquidity by dividing its… …
97environmental liability — UK US noun [C, usually plural] ACCOUNTING, ENVIRONMENT ► the cost to a company of cleaning up pollution that is caused by its activities: »The firm suffered tax, legal, and environmental liabilities amounting to £396m …
98external liability — UK US noun [C, usually plural] (plural external liabilities) ► ACCOUNTING an amount of money that a company owes to lenders or creditors (= people or organizations that have lent it money, or sold it goods), compared to money that is owed to… …
99limited liability partnership — UK US noun [C] US LAW ► LLP(Cf. ↑LLP) …
100absolute liability — /æbsəlut laɪəˈbɪləti/ (say absuhlooht luyuh biluhtee) noun → strict liability …
