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current liability
(accounting) A liability or financial obligation which will come due in the near-term (often within one year).
alternative liability
(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
liability insurance
Any insurance against a potential loss due to the insured's liability for injury or damage to others.
limited liability
(finance) The liability of an owner or a partner of a company for no more capital than they have invested.
liability insurances
limited-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.
limited liability companies
chancel repair liability
limited liability company
(law) A type or form of for-profit incorporated company where ownership is divided into shares, and where the governing rules are set forth in a contract entered into by all of the initial shareholders. The name derives from the fact that regardless of potential losses or even bankruptcy of the corporation, individual shareholders will bear a maximum liability of the price they paid for their shares.