2 : something for which one is liable
especially : pecuniary obligation : debt
usually used in plural
business assets and liabilities
types of liabilitiesfor a non-bank (individual or company):
bank loans
mortgage
student loan
credit card debt
other type of bank loan
items (e.g. furniture) purchased with a payment plan
(i.e. financed by the vendor)
money borrowed from a non-bank
Such lender forgoes use of the money lent until it's repaid.
other bills (e.g. rent, utilities, memberships, . . .) presently due
municipal, corporate, or government bond
(owed by the issuer)
for a bank:
customer account balances
central bank reserves borrowed from another bank
obligations related to securities sold under repurchase agreements
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total liabilities (on a company's balance sheet)
Sum of book values of liabilities listed.
In law, after you deposit cash, who owns that cash?
safe deposit box
You own the cash.
bailment
2. (Law) A delivery of goods or money by one person to
another in trust, for some special purpose, upon a
contract, expressed or implied, that the trust shall be
faithfully executed. --Blackstone.
bank checking account
The cash you deposited is now a bank asset.
You have an IOU from the bank.
The bank promises to pay an equivalent amount upon demand.