liability assumed

USAGE SUMMARY

The phrase "liability assumed" is correct and usable in written English.
It can be used in legal or financial contexts to indicate that a party has accepted responsibility for certain risks or obligations. Example: "By signing this contract, the liability assumed by the contractor includes any damages incurred during the project."

✓ Grammatically correct

Formal & Business

News & Media

Academia

Science

Human-verified examples from authoritative sources

Exact Expressions

2 human-written examples

But the liability assumed by the Government here is that created by 'all the circumstances,' not that which a few of the circumstances might create.

Cornell University

The first "short" leg is a contingency; you don't count it as a liability assumed by the partnership.

Forbes

Human-verified similar examples from authoritative sources

Similar Expressions

58 human-written examples

Perhaps the difference relates to a stock sale and the IRS has recalculated you tax liability assuming the proceeds of the sale were 100% capital gains.

Forbes

Ponnuru writes about "reduc ing) reduce Social Security's unfunded liability -- assuming, of course, that anyone still cares about that". The left does, with a set of proposed funding mechanisms that includes a financial transaction tax, a small increase in the overall payroll tax (which for most voters would only amount to a dollar or so per week), and higher taxes on the wealthy.

HuffPost

While reports had varied on the final purchase price, according to the filing, the acquisition of Waze was "for a total cash consideration of $966 million," with "$847 million attributed to goodwill and $188 million attributed to intangible assets," minus the $69 million in other net liabilities assumed from Waze's books.

TechCrunch

If Medicare were a private insurance company, its costs would increase by a trillion dollars annually for the interest on its liabilities (assuming 3% interest).

Forbes

This corresponds to a liability-threshold model for postpartum haemorrhage, in which the variance in the underlying liability is assumed possible to transform to a standard normal distribution and partition in different components.

British Medical Journal

The distribution of the unobservable liability was assumed to be multivariate normal.

BMC Veterinary Research

The liability was assumed to be standard normally distributed with zero mean and unit variance.

Behavior Genetics

With ordinal item level data an underlying continuously distributed liability is assumed and thresholds that categorize the disorder are estimated based on the response frequencies (Flora and Curran 2004).

Behavior Genetics

The Goodrich Corporation said yesterday that it would spin off its engineered products unit in a deal that executives expect will strengthen its aerospace business and relieve the firm of asbestos-liability costs assumed during a 1999 acquisition.

The New York Times

Expert writing Tips

Best practice

In business acquisitions, carefully assess the potential "liability assumed" as it can significantly impact the overall value of the deal.

Common error

Avoid using "liability assumed" without specifying the exact nature and extent of the liability. Be precise about what is being assumed to prevent misunderstandings.

Linguistic Context

The phrase "liability assumed" functions as a noun phrase that describes the acceptance of responsibility for a debt, obligation, or risk. It's commonly used in legal and financial contexts, often indicating a transfer of responsibility.

Expression frequency: Rare

Frequent in

Formal & Business

30%

News & Media

30%

Academia

20%

Less common in

Science

10%

Encyclopedias

5%

Reference

5%

Ludwig's WRAP-UP

In summary, "liability assumed" is a grammatically correct noun phrase primarily used in formal contexts such as legal and business agreements. It signifies the acceptance of responsibility for a debt, obligation, or risk. As noted by Ludwig AI, the phrase is accurate and acceptable in written English. While its frequency is relatively rare, understanding its proper usage is crucial in professional settings to ensure clarity and avoid potential misunderstandings. When using the expression, make sure to define clearly the scope of the liability.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

legal responsibility accepted

Clarifies that the responsibility is legally binding.

responsibility undertaken

Emphasizes the act of taking on a responsibility.

fiscal obligation assumed

Focuses specifically on the financial side of responsibility.

obligation accepted

Highlights the acceptance of a duty or commitment.

contractual duty undertaken

Indicates that the responsibility arises from a contractual agreement.

risk taken on

Focuses on the acceptance of potential risks associated with an action or agreement.

burden shouldered

Implies bearing a heavy responsibility or difficulty.

debt taken over

Specifically refers to assuming financial obligations.

exposure accepted

Highlights the acceptance of potential vulnerabilities.

accountability embraced

Focuses on willingly accepting responsibility for outcomes.

FAQs

What does "liability assumed" mean in a legal context?

In a legal context, "liability assumed" means that one party agrees to take on the legal responsibility for something, such as a debt or obligation, that was previously the responsibility of another party. This is often seen in contracts, mergers, and acquisitions.

What are some alternatives to saying "liability assumed"?

You can use alternatives such as "responsibility undertaken", "obligation accepted", or "risk taken on" depending on the specific context.

How does "liability assumed" differ from "liability incurred"?

"Liability assumed" refers to a situation where a party voluntarily takes on a pre-existing liability, whereas "liability incurred" refers to a liability that arises as a direct result of a party's own actions or omissions.

In what situations might a company "liability assumed"?

A company might have its "liability assumed" during mergers and acquisitions, where the acquiring company takes on the debts and obligations of the acquired company. It can also happen when a company takes over contractual agreements from another entity.