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What is Liability?

Answers were Sorted based on User's Feedback



What is Liability?..

Answer / biswa

the state of being legally obliged and responsible

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What is Liability?..

Answer / biswaranjan

what is indebtedness?

an obligation to pay money to another party.

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What is Liability?..

Answer / sara

liabilities are those which a business owes.e.g loan from
banks ,loan from friends ,loan from relatives.

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What is Liability?..

Answer / amit

an obligation to pay money to another party

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What is Liability?..

Answer / amar nath kosta

Liability means any legal responsibility, duty or obligation
for one's acts or omissions. It is the bound of necessity
that exists between the wrong doer and the remedy of the wrong.

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What is Liability?..

Answer / b.narasimha rao

PROBABLY FUTURE SACRIFICE OF A ECONOMIC BENIFITS ARISING
FROM PRESENT OBILIGATION OFA PARTUCULAT ENTITY TO TRANSFER
OF ASSETS

Is This Answer Correct ?    1 Yes 3 No

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