- admission of liability
- admission of liability adˌmission of liaˈbility noun admissions of liability PLURALFORM [countable] LAWwhen a person or organization accepts legal liability for something:
• The company maintains that the settlement accord is not an admission of liability.
* * *admission of liability UK US noun [C or U] (plural admissions of liability) LAW► a statement made by a person or company saying that they are legally responsible for something that has harmed someone: »
A company spokeswoman insisted the agreement did not represent any admission of liability.»
The settlement was made without any admission of liability.
Financial and business terms. 2012.
Look at other dictionaries:
liability — li·a·bil·i·ty /ˌlī ə bi lə tē/ n pl ties 1: the quality or state of being liable 2: something for which one is liable: as a: a financial obligation: debt tax liability the bonds … Law dictionary
admission — ad·mis·sion n 1: the act or process of admitting admission into evidence 2 a: a party s acknowledgment that a fact or statement is true ◇ In civil cases admissions are often agreed to and offered in writing to the court before trial as a method… … Law dictionary
Liability — A financial obligation, or the cash outlay that must be made at a specific time to satisfy the contractual terms of such an obligation. The New York Times Financial Glossary * * * liability li‧a‧bil‧i‧ty [ˌlaɪəˈbɪlti] noun liabilities PLURALFORM … Financial and business terms
liability — 1) In the broad legal sense, responsibility or obligation. For example, a person is liable to pay his debts, under the law; 2) In accounting, any debt owed by an individual or organization. Current, or short term, liabilities are those to be paid … Financial and business terms
admission — noun 1 entrance ADJECTIVE ▪ free, half price ▪ emergency ▪ emergency admissions to hospital ▪ cinema (BrE), theatre/theater … Collocations dictionary
admission — noun 1) an admission of liability Syn: confession, acknowledgement, acceptance, concession, disclosure, divulgence 2) free admission Syn: admittance, entry, entrance, access, entrée … Synonyms and antonyms dictionary
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