fixed liability

fixed liability
Literally, an absolute or certain liability. A liability "evidenced by a judgment or an instrument in writing, absolutely owing at the time of the filing of a petition in bankruptcy by or against the debtor, whether then payable or not, with any interest thereon which would have been recoverable at that date or with a rebate of interest upon such liability as was not then payable and did not bear interest. Bankr Act § 63 (a) (1); 11 USC § 103 (a) (1).

Ballentine's law dictionary. . 1998.

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  • fixed liability — UK US noun [C] (plural fixed liabilities) ► ACCOUNTING, FINANCE LONG TERM LIABILITY(Cf. ↑long term liability) …   Financial and business terms

  • fixed liability — see liability 2a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • fixed liability — a liability, as a mortgage or debenture, that will not mature for a relatively long time. * * * fixed liability, an obligation which does not mature for at least a year …   Useful english dictionary

  • Fixed liability — A fixed liability is a type of debt. Bonds, mortgages and loans that are payable over a term exceeding one year would be fixed liabilities.See also Long term liabilities …   Wikipedia

  • fixed liability — a liability, as a mortgage or debenture, that will not mature for a relatively long time. * * * …   Universalium

  • fixed liability — /fɪkst laɪəˈbɪləti/ (say fikst luyuh biluhtee) noun a long term liability, as a mortgage, debenture …  

  • liability — li·a·bil·i·ty /ˌlī ə bi lə tē/ n pl ties 1: the quality or state of being liable 2: something for which one is liable: as a: a financial obligation: debt tax liability the bonds …   Law dictionary

  • fixed — I (securely placed) adjective anchored, certus, fast, fastened, firm, firmly established, firmly implanted, firmly seated, firmly set, immovable, irremovable, made fast, permanent, rendered stable, rigid, secure, set, solid, sound, stable,… …   Law dictionary

  • liability — The word is a broad legal term. Mayfield v. First Nat. Bank of Chattanooga, Tenn., C.C.A.Tenn., 137 F.2d 1013, 1019. It has been referred to as of the most comprehensive significance, including almost every character of hazard or responsibility,… …   Black's law dictionary

  • liability — The word is a broad legal term. Mayfield v. First Nat. Bank of Chattanooga, Tenn., C.C.A.Tenn., 137 F.2d 1013, 1019. It has been referred to as of the most comprehensive significance, including almost every character of hazard or responsibility,… …   Black's law dictionary

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