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Liability |
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LiabilityAn amount that is owed, in contrast to an asset. A liability may result from borrowing, from obligation to pay for a product or service received, etc.Similar MatchesJoint liabilityJoint liabilityThe responsibility of two or more people to fulfill the terms of a home loan or debt. Contingent pension liabilityContingent pension liabilityUnder ERISA, a firm is liable to its pension plan participants for up to 39% of the net worth of the firm. Limited liability instrumentLimited liability instrumentA security, such as a call option, in which the owner can lose only the initial investment. Unlimited liabilityUnlimited liabilityFull liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability. Umbrella personal liability policyUmbrella personal liability policyA liability insurance policy that provides protection against damages not covered by standard liability policies, such as large jury awards in lawsuits. Further SuggestionsLiability insurancejoint liability umbrella personal liability insurance Noncurrent liability Lender liability lawsuits Tax liability limited liability Limited liability Contractual liability Funded Liability joint and several liability liability insurance |
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