The phrase "assumption of liability" is correct and usable in written English.
It is typically used in legal or financial contexts to refer to the acceptance of responsibility for certain obligations or risks.
Example: "The contract includes an assumption of liability clause, which outlines the responsibilities of each party in case of a breach."
Alternatives: "acceptance of responsibility" or "transfer of liability".
Guaranty and suretyship, in law, assumption of liability for the obligations of another.
This section does not apply to the guaranty of public deposits or the assumption of liability for member accounts.
The article was more "an assumption of liability to pay damages than an admission of war guilt" and compared it with "a man who undertakes to pay all the cost of a motor accident than to the plea of guilty entered by an accused criminal".
It indicates the assumption of liability.
Consideration should be given in advance to the issue of whether it would be responsible to grant a derogation from clearing to public sector entities within the meaning of Article 4(18) of Directive 2006/48/EC which are owned by central governments and are covered by an explicit guarantee arrangement entered into by that central government which is equivalent to assumption of liability.
The deal will probably contribute $100 million to $200 million to Viacom, in large part from tax benefits and the buyer's assumption of liabilities like write-downs on holiday sales, James Dix, an analyst at Wedbush Securities, said.
MICHAEL J. de la MERCED TERRESTAR BID Dish Network, the satellite television company controlled by Charles W. Ergen, left, has bid $1.375 billion in cash and the assumption of liabilities for TerreStar Networks, according to a bankruptcy filing.
Overextended and pursued by a long line of creditors, the company bearing the family name, Dunmore Homes, was sold to a New York corporation owned by a Sacramento-area mortgage broker for $500, including the assumption of liabilities totaling more than $250 million.
But the analyst estimates that the Delphi debacle will ultimately cost the automaker $1.2 billion, along with the assumption of liabilities.
