contingent liability
noun
a liability dependent upon the occurrence of a particular event, as default by the maker of a guaranteed loan.
Words Nearby contingent liability
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
How to use contingent liability in a sentence
A claim barred by the statute of limitations is not provable, nor is a contingent liability.
Putnam's Handy Law Book for the Layman | Albert Sidney Bolles
Browse