Glossary

Liability

A liability is an obligation which requires one unit (the debtor) to make a payment or a series of payments to the other unit (the creditor) in certain circumstances specified in a contract between them.

See also:
"Liability" is in the UNSPSC Code "84131607"
  Liability insurance

"Liability" is in the NAICS Code "524126"
  Direct Property and Casualty Insurance Carriers
  ... that protect policyholders against losses that may occur as a result of property damage or Liability

Ref: 86245/2006-09-13


Other Database Pages Exist for this Phrase:
Ability (From Social Ability)

You have no rights to post comments

Related Articles

Claim ■■■■■
Claim is term that can refer to:; ; 1. Demand for something as rightful or due; - - 2. An assertion . . . Read More
Risk at environment-database.eu■■■■
A risk is "A measure of the probability that damage to life, health, property, and/or the environment . . . Read More
Insurance ■■■■
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk . . . Read More
Accident ■■■
In the industrial/industry context, an accident refers to any unplanned event or occurrence that results . . . Read More
Casualty at psychology-glossary.com■■
Casualty refers to an individual whose psychological well-being declines rather than improves as a result . . . Read More
CLC at maritime-glossary.com■■
English: CLC - German: CLC is a shortcut for 'International Convention on Civil Liability for Oil Pollution . . . Read More
Adhesion ■■
Adhesionis a characteristic in all adhesives; the force required to remove a label from a substrate after . . . Read More
Exploitation ■■
Exploitation is the use of someone or something in an unjust or cruel manner; Most often, the word exploitation . . . Read More
Gusuku Sites and Related Properties of the Kingdom of Ryukyu at travel-glossary.com■■
- The Gusuku Sites and Related Properties of the Kingdom of Ryukyu is a World Heritage Site in Japan . . . Read More
Elastomeric Roof Coatings at environment-database.eu■■
Elastomeric Roof Coatings are ; - Elastomeric coatings have elastic properties, and can stretch in the . . . Read More