A contingent liability is the possibility of a liability arising from a future event. The liability is contingent on whether or not the event occurs. The most common source of contingent liabilities ...

A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

Loss contingency refers to possible but uncertain losses facing your small business. If someone sues you, you can incorporate the potential damages if you lose as a loss contingency on your financial ...