Liability: Canada Debt .ca defines Liability

Bankruptcy Term Liability

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Canada Debt has the definition to the bankruptcy and debt term Liability. Finding answers to terms such as Liability can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Liability in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Liability' is used as follows:

Any legal obligation for which a person is responsible.