contingent liability
A potential liability dependent upon some future event occurring or not occurring. For example, a company is named as a defendant in a $1 million lawsuit. Does that mean the company automatically has a liability of $1 million?
contingent liability
obligation of a person who signs a promissory note as an accommodation endorser , comaker , or guarantor , becoming liable for payment in the event the original borrower defaults.
Contingent Liability
Definition 1.
1. The possibility of an obligation to pay certain sums dependent on future events.2. Defined obligations by a company that must be met, but the probability of payment is minimal.
CONTINGENT LIABILITY
A potential obligation of a grantor; a debt that is not now the responsibility of a person or business but could be due and payable under some circumstances, such as a cosigner on a note by another.
CONTINGENT LIABILITY - is: (a) A possible obligation from past events that will be confirmed only by th...
CONTINGENT ORDER - An order which can be executed only if another event occurs; i.e. "sell Oct 45 call ...
Contingent Liability
An obligation that is dependent on the occurrence or nonoccurrence of
one or more future events to confirm the existence of an obligation, the amount owed, the payee,
or the date payable.
Contingent Liability
Potential LIABILITY arising from a past transaction or a subsequent event.
CONTINGENT LIABILITY - Items which may become liabilities as a result of conditions undetermined at a given date, such as guarantees, pending law suits, judgments under appeal, unsettled disputed claims, unfilled purchase orders, ...
Contingent liability:
A possible future liability, i.e. a liability which becomes such only if some event occurs. For example, a guarantor becomes liable for his guarantee only if the debt he has guaranteed goes unpaid by the debtor.
contingent liability
A debt or obligation that becomes a liability only when something else happens. For example, a guarantor becomes liable for his guarantee only if the debt that is guaranteed does not get paid by the debtor.
continuation ...
Contingent Liability
A liability or obligation which may arise in the event of a certain occurence; eg. the damages which might have to be paid to a external party in the event of a successful legal action.
contingent liability
A legal responsibility conditional on a future event such as a law suit or court case.
Contingent liability - Potential liability that may exist in the future depending on the outcome of a past event. Examples are an adverse tax court decision, lawsuit, and notes receivable discounted.
Contingent Liability (in banking)
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Contingent Liability - A potential obligation that may be incurred dependent upon the occurrence of a future event.
Contingent liability
A contingent liability is a possible liability that will become a real liability only if and when another event happens.
Continuity assumption (going-concern assumption) ...
creditor has not already proved in respect of the guaranteed debt, prove against the bankrupt's estate, not only in respect of payments made before the bankruptcy of the principal debtor, but also, it seems, in respect of the contingent liability to ...
On the other hand, if it is only reasonably possible that the contingent liability will become a real liability, then a note to the financial statements is required.
It could involve a lease or a separate subsidiary or a contingent liability such as a letter of credit.
Upstream Guarantee - A contingent liability on a subsidiary's financial statements in which the subsidiary guarantees its parent company's debt.
Contingent liabilities are possible future liabilities that will only become certain on the occurrence of some future event. A contingent liability is less certain than a provision: the latter is expected to occur, a contingent liability might occur.
A balance sheet after all by definition lists all assets and liabilities of a company. Initially the term off-balance sheet liability tended to mean a contingent liability, ...
contingent liability A liability for which payment may or may not come to pass. This is generally... contingent order An order which is to be executed only if another order is executed first. An...
 See also: Expense, Contractor, Capital expenditure, Lessor, Capitalized
  
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