Perhaps my master might refine a little in these speculations, which he had drawn from what he observed himself, or had been told him by others; however, I could not reflect without some amazement, and much sorrow, that the rudiments of lewdness, coquetry, censure, and scandal, should have place by instinct in womankind.
Financial Liability. Definition: Under international financial reporting standards, a financial liability can be either of these two items: 1  A contractual obligation to deliver cash or similar to another entity or a potentially unfavorable exchange of financial assets or liabilities with another entity.efinition: Under international financial reporting standards, a financial liability can be either of these two items: 1  A contractual obligation to deliver cash or similar to another entity or a potentially unfavorable exchange of financial assets or liabilities with another entity.
âCurrent Liabilitiesâ may include: 1  Accounts Payable: Money owed by a business to its suppliers or partners. 2  Business Credit Cards: Company credit card bills due. 3  Operating Line of Credit: Any money owed to a bank that has extended the business an operating line of credit. 4  Taxes Owed: Any federal and state taxes owed for one year.