Liability
A liability can mean something that is a hindrance or puts an individual or group at a disadvantage, or something that someone is responsible for, or something that increases the chance of something o...
The Law And The Robot
Let’s get hypothetical. Say sometime in the future, a person purchases a household robot. Its functions extend to cleaning services, but it’s capable of learning new ways to clean over time, albeit in...
This brilliant pyramid outlines the 6 steps to financial success
You may have heard of the hierarchy of needs ... but what about the hierarchy of FIRE? It's the ranking of primary human needs for psychological well-being as described by American psychologist Abraha...
Debt
A debt generally refers to money owed by one party, the debtor, to a second party, the creditor. Debt is generally subject to contractual terms regarding the amount and timing of repayments of princi...
Product liability
Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those produc...
The Law And The Robot
Let’s get hypothetical. Say sometime in the future, a person purchases a household robot. Its functions extend to cleaning services, but it’s capable of learning new ways to clean over time, albeit in...
Directors and officers liability insurance
Directors and officers liability Insurance (often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization(s) itself, as indemnification (reimb...
Chinese drywall
"Chinese drywall" refers to an environmental health issue involving defective drywall manufactured in China and imported to the United States starting in 2001. Laboratory tests of samples for volatile...
Chinese drywall - Wikipedia
Limited liability
Limited liability is where a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership. If a company with limited liability i...
Vicarious liability in English law
Vicarious liability in English law is a doctrine of English tort law that imposes strict liability on employers for the wrongdoings of their employees. Generally, an employer will be held liable for a...
Vicarious liability in English law - Wikipedia
Accrued liabilities
Accrued liabilities are liabilities that reflect expenses on the income statement that have not been paid or logged under accounts payable during an accounting period; in other words, obligations for ...
Long-term liabilities
Long-term liabilities are liabilities with a future benefit over one year, such as notes payable that mature longer than one year.In accounting, the long-term liabilities are shown on the right wing o...
Statutory liability
Statutory Liability is a legal term indicating the liability of a party who may be held responsible for any action or omission due to a related law that is not open to interpretation.Although the term...
Nuclear entombment
Entombment (also referred to as safe enclosure) of a nuclear reactor is a method of nuclear decommissioning in which radioactive contaminants are encased in a structurally long-lived material, such as...
Nuclear entombment - Wikipedia
Strict liability
In law, strict liability is a standard for liability which may exist in either a criminal or civil context. A rule specifying strict liability makes a person legally responsible for the damage and los...
StarLink corn recall
The StarLink corn recalls occurred in the autumn of 2000, when over 300 food products were found to contain a genetically modified corn that had not been approved for human consumption. It was the fir...
StarLink corn recall - Wikipedia
Indirect liability
Indirect liability refers to legal liability imposed on an entity which is facilitating an infringement of another's rights, particularly of intellectual property rights, but not accruing benefit (or ...
Nuclear Liabilities Fund
The Nuclear Liabilities Fund (formerly the Nuclear Generation Decommissioning Fund) is a fund of the UK Government to provide arrangements for funding certain long-term costs for the decommissioning o...
Warsaw Convention
The Convention for the Unification of certain rules relating to international carriage by air, commonly known as the Warsaw Convention, is an international convention which regulates liability for int...
Asset liability management
Initially pioneered by Anglo-Saxon financial institutions during the 1970s as interest rates became increasingly volatile, asset and liability management (often abbreviated ALM) is the practice of man...
Asset liability management - Wikipedia
Professional liability insurance
Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance that ...
Evasion of liability by deception
Evasion of liability by deception was formerly a statutory offence in England and Wales and Northern Ireland.
This offence was created by the Theft Act 1978. The law clarified existing law to exp...
Occupiers' Liability Act 1984
The Occupiers' Liability Act 1984 (c. 3) is an Act of the Parliament of the United Kingdom that covers occupiers' liability for trespassers. In British Railways Board v Herrington 1972 AC 877, the Hou...
Secondary liability
Secondary liability, or indirect infringement, arises when a party materially contributes to, facilitates, induces, or is otherwise responsible for directly infringing acts carried out by another part...
Occupiers' liability in English law
(This article describes English law.) Occupiers' liability is a field of tort law, codified in statute, which concerns the duty of care owed by those who occupy real property, through ownership or lea...
Business owner's policy
A business owner’s policy (also businessowner’s policy, business owners policy or BOP) is a special type of commercial insurance designed for small and medium-sized businesses. By bundling general lia...
Current liability
In accounting, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle of a given firm, whichever perio...