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A liability is something a person or company owes, usually a sum of money. Liabilities are settled over time through the transfer of economic benefits including money, goods, or services. Liability: Definition, Types, Example, and Assets vs. Liabilities investopedia.com ? terms ? liability investopedia.com ? terms ? liability
Examples of unlimited liability The subsidiary managed there changed its legal form of organization in 2006 to become a so-called unlimited liability company. ... There's going to be unlimited liability. ... This delegation from an authority and unlimited liability is the basis of the moral equality of soldiers.
Hear this out loud PauseThey clearly want to limit to some extent their financial liability. There is the question of the position of the local authorities, who are concerned in respect of the financial liability which falls upon them.
Hear this out loud PauseBoth owners are liable for the debts incurred by the business. All his property is liable to pay his debts.
Hear this out loud PauseHis small size was a liability (to him) as a football player. This scandal has made the vice president a liability (for this administration).