(Australia, business, law) A form of limited liability that may be used by mining companies, under which the shareholders may pay a company debt by surrendering shares in lieu of money.

An obligation, debt or responsibility owed to someone.

(finance) An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments. / (accounting) The right side of a balance sheet.

plural of liability

(law) Of a business entity, having liability for legal claims that is limited to the assets of the entity itself, and which therefore does not reach the assets of the individual owners/investors of the company.

Any insurance against a potential loss due to the insured's liability for injury or damage to others.

(finance) The liability of an owner or a partner of a company for no more capital than they have invested.

(accounting) A liability or financial obligation which will come due in the near-term (often within one year).

(law) A standard of legal liability by which a person can be found liable regardless of intent, fault or negligence.

(law) a legal doctrine that allows a plaintiff to shift the burden of proving causation of her injury to multiple defendants, even though only one of them could have been responsible