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* ], the legal bound obligation to pay debts | * ], the legal bound obligation to pay debts | ||
* ], part of the law of tort which focuses on civil wrongs | * ], part of the law of tort which focuses on civil wrongs | ||
BEN=FAT | |||
== Finance == | == Finance == | ||
* ], a current obligation of an entity arising from past transactions or events | * ], a current obligation of an entity arising from past transactions or events |
Revision as of 13:32, 19 September 2012
A liability can mean something that is a hindrance or puts an individual or group at a disadvantage, or something that someone is responsible for, or something that increases the chance of something occurring (i.e. it is a cause).
Liability may also refer in specific fields to:
- legal liability, the legal bound obligation to pay debts
- public liability, part of the law of tort which focuses on civil wrongs
BEN=FAT
Finance
- liability (financial accounting), a current obligation of an entity arising from past transactions or events
- Accrued liabilities and contingent liability
- Current liability
- Long-term liabilities, liabilities with a future benefit over one year
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