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Liability Treaties
Liability refers to the following: Law * Legal liability, in both civil and criminal law ** Public liability, part of the law of tort which focuses on civil wrongs ** Product liability, 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 products cause ** Professional liability for one's professional acts, as in professional liability insurance Finance * Liability (financial accounting) a current obligation of an entity arising from past transactions or events ** Accrued liabilities and contingent liability ** Current liability Current liabilities in accounting refer to the liabilities of a business that are expected to be settled in cash within one fiscal year or the firm's operating cycle, whichever is longer.Drake, P. P., ''Financial ratio analysis'', p. 3, publishe ..., or short-term liabilities are obligations that will be settled by current assets ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Liability
In law, liable means "responsible or answerable in law; legally obligated". Legal liability concerns both Civil law (common law), civil law and criminal law and can arise from various areas of law, such as contracts, torts, taxes, or fines given by Administrative law, government agencies. The Plaintiff, claimant is the one who seeks to establish, or prove, liability. Liability in business In commercial law, limited liability is a method of protection included in some business formations that shields its owners from certain types of liability and that amount a given owner will be liable for. A limited liability form separates the owner(s) from the business. The limited liability form essentially acts as a corporate veil that protects owners from liabilities of the business. This means that when a business is found liable in a case, the owners are not themselves liable; rather, the business is. Thus, only the funds or property the owner(s) have invested into the business are subje ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Liability
Public liability is part of the law of tort which focuses on civil wrongs. An applicant (the injured party) usually sues the respondent (the owner or occupier) under common law based on negligence and/or damages. Claims are usually successful when it can be shown that the owner/occupier was responsible for an injury, therefore they breached their duty of care. The duty of care is very complex, but in basic terms it is the standard by which one would expect to be treated whilst one is in the care of another. Once a breach of duty of care has been established, an action brought in a common law court would most likely be successful. Based on the injuries and the losses of the applicant, the court would award a financial compensation package. The law of insurance and public liability In the course of managing any property, one is obligated to comply with laws and statutes administered by government and municipal bodies. These bodies impose various liabilities, of which the property ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 products cause. Although the word "product" has broad connotations, product liability as an area of law is traditionally limited to products in the form of tangible personal property. Product liability by country The overwhelming majority of countries have strongly preferred to address product liability through legislative means. Online access to this source requires a subscription to JSTOR or the Oxford Academic database operated by Oxford University Press. In most countries, this occurred either by enacting a separate product liability act, adding product liability rules to an existing civil code, or including strict liability within a comprehensive Consumer Protection Act. In the United States, product liability law was developed primarily through case law from state courts as w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Professional Liability Insurance
Professional liability insurance (PLI), also called professional indemnity insurance (PII) and commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client in a civil lawsuit. The coverage focuses on alleged failure to perform on the part of, financial loss caused by, and error or omission in the service or product sold by the policyholder. These are causes for legal action that would not be covered by a more general liability insurance policy which addresses more direct forms of harm. Professional liability insurance may take on different forms and names depending on the profession, especially medical and legal, and is sometimes required under contract by other businesses that are the beneficiaries of the advice or service. Coverage almost always provides for the def ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liability (financial Accounting)
In financial accounting, a liability is a quantity of value that a financial entity owes. More technically, it is value that an entity is expected to deliver in the future to satisfy a present obligation arising from past events. The value delivered to settle a liability may be in the form of assets transferred or services performed. Characteristics A liability is defined by the following characteristics: * Any type of borrowing from persons or banks for improving a business or personal income that is payable during short or long time; * A duty or responsibility to others that entails settlement by future transfer or use of assets, provision of services, or other transaction yielding an economic benefit, at a specified or determinable date, on occurrence of a specified event, or on demand; * A duty or responsibility that obligates the entity to another, leaving it little or no discretion to avoid settlement; and, * A transaction or event obligating the entity that has already occ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contingent Liability
In accounting, contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of an uncertain future event such as the outcome of a pending lawsuit. These liabilities are not recorded in a company's accounts and shown in the balance sheet when both probable and reasonably estimable as 'contingency' or 'worst case' financial outcome. A footnote to the balance sheet may describe the nature and extent of the contingent liabilities. The likelihood of loss is described as probable, reasonably possible, or remote. The ability to estimate a loss is described as known, reasonably estimable, or not reasonably estimable. It may or may not occur. Classification According to International Monetary Fund's ''Government Finance Statistics Manual'', contingent liabilities shall be classified as: * Explicit contingent liabilities ** Guarantees *** One-off guarantees **** Loan and other debt instrument guarantees (publicly guaranteed debt) **** Other one- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Current Liability
Current liabilities in accounting refer to the liabilities of a business that are expected to be settled in cash within one fiscal year or the firm's operating cycle, whichever is longer.Drake, P. P., ''Financial ratio analysis'', p. 3, published on 15 December 2012. These liabilities are typically settled using current assets or by incurring new current liabilities. Key examples of current liabilities include accounts payable, which are generally due within 30 to 60 days, though in some cases payments may be delayed. Current liabilities also include the portion of long-term loans or other debt obligations that are due within the current fiscal year. The proper classification of liabilities is essential for providing accurate financial information to investors and stakeholders. The classification of liabilities also plays a role in determining financial ratios, such as the current ratio—calculated as current assets divided by current liabilities. A higher current ratio indica ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Long-term Liabilities
Long-term liabilities, or non-current liabilities, are liabilities that are due beyond a year or the normal operation period of the company. The normal operation period is the amount of time it takes for a company to turn inventory into cash. On a classified balance sheet, liabilities are separated between current and long-term liabilities to help users assess the company's financial standing in short-term and long-term periods. Long-term liabilities give users more information about the long-term prosperity of the company, while current liabilities inform the user of debt that the company owes in the current period. On a balance sheet, accounts are listed in order of liquidity, so long-term liabilities come after current liabilities. In addition, the specific long-term liability accounts are listed on the balance sheet in order of liquidity. Therefore, an account due within eighteen months would be listed before an account due within twenty-four months. Examples Examples of long- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Liability
''The Liability'' (also known as ''The Hitman's Apprentice'' ) is a 2013 British - directed by Craig Viveiros and written by John Wrathall. The film stars , Talulah Riley, [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liability (album)
''Liability'' is the third solo studio album by American rapper Prof. It was released via Rhymesayers Entertainment on October 16, 2015. It is Prof's first album with Rhymesayers. It features guest appearances from Tech N9ne, Petey Pablo, and Waka Flocka Flame. The album peaked at number 141 on the ''Billboard'' 200 chart, as well as number 19 on the Top R&B/Hip-Hop Albums chart. Critical reception David Jeffries of AllMusic commented that "Guest shots from Tech N9ne ('Ghost') and Petey Pablo ('King') represent how weird and wild this guy plays it, but the local emo kids Atmosphere love the man as well, and they're likely appreciative that his brand of chaos is crafted as it comes." He added, "''Liability'' is proof that Prof is an off-kilter but discerning MC." Jesse Sendejas Jr. of ''Houston Press'' praised the album as being like Laurence Sterne's ''The Life and Opinions of Tristram Shandy, Gentleman ''The Life and Opinions of Tristram Shandy, Gentleman'', also know ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liability (song)
"Liability" is a song recorded by New Zealand singer-songwriter Lorde, from her second studio album ''Melodrama'' (2017). Lorde co-wrote and co-produced the track with Jack Antonoff. It was released on 10 March 2017, by Lava and Republic Records as the album's first promotional single. It is a pop piano ballad, which is accompanied with organs and guitar strums in the background. The track's lyrics detail the consequences and scrutiny Lorde's friends received from the media as a result of her new-found fame and the effect it had on her emotional health. Music critics praised the song's lyrical content and Lorde's vocal delivery; some noted its dramatic sonic shift from the album's lead single "Green Light" (2017), which was released a week prior. The song had minor chart placements in the United States and the United Kingdom, placing at 78 and 84, respectively. She performed "Liability" for the first time on ''Saturday Night Live'' in New York in 2017 and subsequently at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Written In Stone
"Written in Stone" is a song that was written for Disney's 1998 animated film ''Mulan'', but was cut from the film when its composer Stephen Schwartz left the project. Lea Salonga auditioned for ''Mulan'' with "Written in Stone" and recorded a demo during production. "Written in Stone" has "surfaced over the years" in later reworkings of the original film. Mulan's deleted torch song, which "accompan edher transformation into a soldier", was salvaged by the one-act version of the play licensed to grade schools, ''Mulan Jr'' in multiple reprises . Meanwhile, Salonga has performed the original demo version live at least once. Collider explains: " In addition to some amateur recordings made publicly accessible online, the song was translated into one of the tentpole numbers for the licensed children’s staged musical ''Mulan, Jr.'' The song incorporates the pentatonic (five notes per octave) scale, which are characteristic of traditional Chinese music." Development Mulan (1998) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
