The phrase "assumed liability" is correct and usable in written English.
It can be used in legal or business contexts to indicate that a party has taken on responsibility for certain obligations or risks.
Example: "By signing the contract, the company assumed liability for any damages that may occur during the project."
Alternatives: "accepted responsibility" or "took on liability".
It assumed liability for some asbestos claims when it bought Dresser Industries for $6.2 billion in stock and assumed debt in 1998.
The Department of Veterans Affairs shall submit to a veteran a notice that the Department of Veterans Affairs has assumed liability for part or all of a veteran's medical debt.
The Conway No. 23 went on the theory that the absence of the bargee had no connection with the damage done to the vessel itself; it assumed liability, if the contrary had been proved.
As Chris Hannant of the Association of Professional Financial Advisers says: "The financial adviser has already advised on the drawdown and therefore assumed liability for that advice, so as this is just the remains of a DC pot I'm not sure why they wouldn't do it".
"He hasn't even assumed liability for the accident".
And last, DAPL has assumed liability for any and all damages that could result from a leak or spill, which give it a strong financial incentive to continue to do maintain constant vigilance.
Save Mart will pay $41 million, including $14 million in assumed liabilities, for six Richmar locations.
Performance Food, a wholesaler, said it will pay $290 million in cash and assumed liabilities.
The total value of the sale was $1.4 million plus certain assumed liabilities.
The purchase price includes assumed liabilities, said Jennifer Meyer, a spokeswoman for WebMD, based in Elmwood Park, N.J.
Washington Group bought the unit, Raytheon Engineers and Constructors, for $53 million in cash in July, and assumed liabilities of $450 million.
