assume liabilities

USAGE SUMMARY

"assume liabilities" is a correct and commonly used phrase in written English.
It refers to taking on responsibility or legal obligations for any debts or financial obligations. Here is an example sentence: As part of the merger, Company A will assume the liabilities of Company B, including any outstanding loans or financial commitments.

✓ Grammatically correct

News & Media

Academia

Human-verified examples from authoritative sources

Exact Expressions

7 human-written examples

BlackRock has said it will not assume liabilities from Quellos's tax-shelter business.

The New York Times

Shaw said it would also assume liabilities of about $450 million.

The New York Times

It would be foolhardy for Germany to assume liabilities for deficit countries without such reforms.

The New York Times

The agreement includes $45 million to assume liabilities, $25 million for the Sabres' projected debt by the end of this season and a $22 million loan.

The New York Times - Sports

The company, based in Huntsville, Ala., will pay about $55 million in cash and $45 million in stock for OSA, and assume liabilities and employee stock options, Avocent said.

The New York Times

Mohamed El-Erian, of the giant bond investor Pimco, said: "Through the E.C.B., E.U. and I.M.F., the official sector has stepped in with its balance sheet to assume liabilities previously held by the private sector, thereby allowing private investors to exit in an orderly fashion".

The New York Times

Human-verified similar examples from authoritative sources

Similar Expressions

53 human-written examples

The University will not assume liability for student actions.

Columbia University

It was forced to assume liability for any further expenses or lawsuits and to reimburse the county $16 million.

The New York Times

Senator Tom Daschle, the Democratic leader, was the chief sponsor of the bill, under which the government will assume liability for any environmental damage.

The New York Times

They would allow employers to shield themselves by naming an outside entity, known as "a designated decision-maker," to assume liability.

The New York Times

The corporation which provides generally high-risk, specialized marine, automobile, aviation, and nonmarine insurance services sets strict financial rules and other regulations but does not itself assume liability.

Encyclopedia Britannica

Expert writing Tips

Best practice

When drafting contracts or legal agreements, clearly define the scope of "assume liabilities" to avoid future disputes over the extent of responsibility.

Common error

Avoid using "assume liabilities" without clearly specifying which liabilities are being assumed. This can lead to legal challenges and misunderstandings.

Linguistic Context

The phrase "assume liabilities" functions as a verb phrase, indicating the act of taking responsibility for financial debts or obligations. As Ludwig AI suggests, it indicates a transfer of responsibility from one entity to another.

Expression frequency: Uncommon

Frequent in

News & Media

57%

Academia

29%

Encyclopedias

14%

Less common in

Science

0%

Formal & Business

0%

Wiki

0%

Ludwig's WRAP-UP

In summary, "assume liabilities" is a verb phrase denoting the act of taking on financial responsibilities, particularly debts or obligations. Ludwig AI validates that it's grammatically correct and used in contexts involving legal agreements, business deals, and financial reporting. While not exceedingly common, its use is generally found in formal settings within news, academic, and business domains. Related phrases include "take on obligations" and "become liable for". To avoid ambiguity, it's best practice to specify which liabilities are being assumed. The top authoritative sources using this phrase are The New York Times, Huffington Post, BBC, Forbes and The Economist.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

become liable for

This alternative focuses on the legal aspect of becoming responsible.

take on obligations

This alternative emphasizes the act of accepting duties or commitments.

take responsibility for debts

This alternative specifies the acceptance of accountability for outstanding financial obligations.

accept financial responsibility

This alternative explicitly states the acknowledgment of accountability for monetary matters.

shoulder the debts

This alternative conveys bearing the weight of financial burdens.

agree to be responsible for

This alternative emphasizes the consent to being held accountable.

absorb the financial burden

This alternative illustrates assimilating the weight of fiscal liabilities.

inherit responsibilities

This alternative suggests receiving duties as a consequence of a transfer or succession.

commit to covering debts

This alternative indicates a pledge to handle financial obligations.

guarantee financial obligations

This alternative highlights ensuring the fulfillment of monetary commitments.

FAQs

How can I use "assume liabilities" in a sentence?

You can use "assume liabilities" to describe a situation where one party takes on the debts or obligations of another. For example, "As part of the merger, Company A will "assume liabilities" of Company B".

What's the difference between "assume liabilities" and "incur debts"?

"Assume liabilities" means to take on existing debts or obligations, while "incur debts" means to create new ones. One "assumes liabilities" from another party, but "incurs debts" themselves.

What can I say instead of "assume liabilities"?

You can use alternatives like "take on obligations", "become liable for", or "shoulder the debts" depending on the context.

Is it always beneficial to "assume liabilities" in a business deal?

Not necessarily. While "assuming liabilities" can be a necessary part of an acquisition or merger, it's crucial to thoroughly assess the extent and nature of those liabilities to avoid potential financial risks. Due diligence is key before you "assume liabilities".