Liability: Difference between revisions
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imported>Doug Williamson (Create page. Sources: linked pages.) |
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* [[Compensation]] | * [[Compensation]] | ||
* [[Damages]] | * [[Damages]] | ||
* [[Disclaimer]] | |||
* [[Goodwill]] | * [[Goodwill]] | ||
* [[Joint and several liability]] | * [[Joint and several liability]] | ||
Latest revision as of 23:46, 24 August 2021
1. Law.
A legal duty or obligation.
2. Financial reporting.
An amount payable.
Liabilities may include estimates, and amounts payable for commercial reasons - for example to maintain goodwill with customers - even if there is not a strict legal obligation to pay them.
