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...
Insolvency
Insolvency occurs when an individual or a firm is unable to meet its financial obligations. Accounting insolvency happens when total liabilities exceed total assets (negative net worth).Cash-flow inso...
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...
Liability (financial accounting)
In financial accounting, a liability is defined as the future sacrifices of economic benefits that the entity ispresently obliged to make to other entities as a result of past transactions or other pa...
Liability (financial accounting) - Wikipedia
European Nuclear Energy Tribunal
The European Nuclear Energy Tribunal (ENET) is an international tribunal, established 1 January 1960, that operates under the auspices of the Organisation for Economic Co-operation and Development (OE...
European Nuclear Energy Tribunal - Wikipedia
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...
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...
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
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...
Nuclear decommissioning
Nuclear decommissioning is the process whereby a nuclear power plant site is dismantled to the point that it no longer requires measures for radiation protection. The presence of radioactive material ...
Nuclear decommissioning - Wikipedia
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
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...
Product liability in the Republic of Ireland
Irish law on product liability was for most of its history based solely on negligence. With the Liability for Defective Products Act, 1991 it has now also the benefit of a statutory, strict liability ...
Product liability in the Republic of Ireland - Wikipedia
Limited Liability Act 1855
The Limited Liability Act 1855 (18 & 19 Vict c 133) was an Act of the Parliament of the United Kingdom that first allowed limited liability for corporations that could be established by the genera...
Legal liability
Legal liability is the legal bound obligation to pay debts.In law, a person is legally liable when he/she is financially and legally responsible for something. Legal liability concerns both civil law ...
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...