The minor in Public Health provides students with the fundamental knowledge of principles, applications, and skills needed to develop a firm appreciation of health and disease prevention at the population level, and to use this special knowledge to transform the experience of their major education into innovative approaches for solving problems in ...
Liability is generally a term that refers to a debt or obligation. In a financial sense, it refers to an organizationâs or person's debts and other financial obligations.In insurance law, liability often is used to refer to blameworthiness that is used to apportion responsibility for repairing damage caused.Criminal liablility involves a determination of intent, unlike civil liability.n insurance law, liability often is used to refer to blameworthiness that is used to apportion responsibility for repairing damage caused. Criminal liablility involves a determination of intent, unlike civil liability.
In simple words, liability is an obligation of the entity to transfer cash or other resources to another party. Liability could for instance be a bank loan, which obligates the entity to pay loan installments over the duration of the loan to the bank along with the associated interest cost. Alternatively, an entity's liability could be a trade payable arising from the purchase of goods from a supplier on credit.