Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
obligation — ob·li·ga·tion /ˌä blə gā shən/ n 1: a promise, acknowledgment, or agreement (as a contract) that binds one to a specific performance (as payment); also: the binding power of such an agreement or indication held that the amendment did not… … Law dictionary
contingent liability — see liability 2a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. contingent liability … Law dictionary
contingent — con·tin·gent /kən tin jənt/ adj 1: likely but not certain to happen compare executory 2: intended for use in circumstances not completely foreseen a contingent fund 3: dependent on or conditioned by something else … Law dictionary
contingent liability — obligation that will go into effect if a particular condition is met … English contemporary dictionary
contingent liability — 1) A possible obligation that arises from past events, whose existence will be confirmed only by the occurrence of one or more uncertain future events not wholly within an entity s control. 2) A present obligation that arises from past events in… … Accounting dictionary
contingent liability — 1) A possible obligation that arises from past events, whose existence will be confirmed only by the occurrence of one or more uncertain future events not wholly within an entity s control. 2) A present obligation that arises from past events in… … Big dictionary of business and management
Contingent vote — A flow chart for Contingent vote … Wikipedia
contingent liability — a liability which will only arise upon the happening of a certain event, for example, the guarantor of a loan being asked to honour the guarantee if the borrower defaults. Glossary of Business Terms A debt or obligation that becomes a liability… … Financial and business terms
Contingent Liability — 1. The possibility of an obligation to pay certain sums dependent on future events. 2. Defined obligations by a company that must be met, but the probability of payment is minimal. 1. A good example of a contingent liability would be an… … Investment dictionary
contingent liability — /kənˌtɪndʒənt laɪəˈbɪləti/ (say kuhn.tinjuhnt luyuh biluhtee) noun an obligation, associated with a past transaction, which will occur in the future only if some particular event occurs …
