assume liability for

assume liability for

To take responsibility for something, typically a cost or expense. When you signed the contract, you assumed liability for fees like this.
See also: assume

assume liability for something

to accept the responsibility for paying a cost. Mr. Smith assumed liability for his son's student loans. The store assumed liability for the injured customer's hospital bills.
See also: assume
References in periodicals archive ?
Summary: According to IPIC, upon the completion of the transfer of assets, IPIC will directly assume liability for all payment obligations.
Indeed, the Court notes, private parties often assume liability for bonds in trade or commerce.
Congress may consider whether the federal government should assume liability for costs associated with increasing ethanol blends," the lawmakers wrote to GAO.
The countries will assume liability for their share of Opel's rescue package, broken down to the number of the employees at the sites of Opel in the countries.
An AUM Shinrikyo splinter group has agreed to assume liability for paying compensation to survivors and bereaved families of victims of crimes committed by members of the religious cult in the 1980s and 1990s, two support groups for the victims said Friday.
Sellers want to be free of environmental liability after the sale, while buyers are reluctant to assume liability for a potentially contaminated site.
What buyer wants to purchase the stock of an accountancy corporation and assume liability for claims against the selling entity, such as malpractice or employment-based claims?
SAS and other European Union carriers have been lobbying governments to assume liability for terrorist attacks against airlines but the Swedish infrastructure minister said that the Swedish government would prefer SAS to find a market solution to the problem.
If you want or expect someone else to assume liability for your facilities, you also need to expect to pay.
S agreed to assume liability for the payment of any transfer taxes imposed on D as a result of the transfer.
As part of the deal, which is conditional on clearance from the authorities in Dublin, UTV will assume liability for County Media's net debt of about IRpounds 3 million.
Gateway operators transferring payments before the settlement is final assume liability for those payments if the settlement is revoked.
Intertape will acquire specific assets, primarily related to slitting and packaging, but will not assume liability for the plant closure or employee termination costs, " noted IPG's Chief Financial Officer, Andrew M.
Included in the terms, AARO will reimburse BBAN approximately $400,000 and assume liability for certain debentures issued by BBAN totaling $500,000 in value.
The parties will jointly assume liability for any finders fees which may be payable if and when the contemplated transaction closes.