assume

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assume the mantle

To take, inherit, or receive the responsibilities and duties associated with a certain position or job, especially one regarded as important or powerful. The king led the country for over 60 years; now, his daughter will assume the mantle of the throne.
See also: assume

assume the position

1. To take over the role and responsibilities of a particular job. My boss wants me to assume the position of treasurer this year, but I don't know if I want the extra workload.
2. A command issued by US law enforcement officers, meaning to stand with one's back to the officer and hold one's arms in a position to be either handcuffed or frisked. Primarily heard in US, South Africa. I knew I was in trouble when they asked me out of the car, but I knew I was going to jail when they told me to assume the position.
See also: assume, position

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

*low profile

Fig. a persona or character that does not draw attention. (*Typically: assume ~; have ~; keep ~; give oneself ~.) I try to be quiet and keep a low profile. It's hard because I just love attention.
See also: low, profile
References in periodicals archive ?
Consequently, assuming the parties are at arm's length when the agreement is entered into and assuming the terms of the agreement are not subsequently modified, a change in the parties' relationship from arm's length to non-arm's length should not bring the parties into the transfer-pricing provisions with respect to the supply agreement.
In the end, are there ways to avoid assuming the debt of the acquired company?
The company gave no indication it was assuming liability for the expenses the taxpayer would incur in contesting the IRS charges.
Economist David Montgomery of Charles River Associates notes that even assuming that the U.
Based on the latest 15-day average price of Range's common stock, and assuming all of Stroud's shareholders were to elect to receive Range common stock in the transaction, Range would issue approximately 13.
For example, if a stock splits in June 1997, the weighted average number of shares is computed assuming the split occurred at the beginning of 1997.
Terry, President of The Vintage Bank, will assume additional responsibilities overseeing the four offices of the Solano Bank division in addition to the six Napa County offices of The Vintage Bank that Glen has managed since assuming presidency of the Bank in 2002.
The parent wanted to transfer the plant and land to a subsidiary, with the subsidiary assuming the contingent liability for the cleanup costs.
Assuming that no material modification of the liability occurs and that no election to apply a different set of regulations is made, the general effective date rules are as follows.
Nasdaq:EMCI) is pleased to announce that on November 9, 2005, the board of directors of Mutual Reinsurance Bureau (MRB) approved the admission of Kentucky Farm Bureau as a new assuming company to the pool effective January 1, 2006.
Assuming a three-year carryback period for operating losses, this example shows that the benefit of the future tax deduction is assured through reduction of future taxable income generated by reversals of existing taxable temporary differences (see exhibit 1, page 73).
In addition, two consensuses are summarized: (1) accounting for multiyear retrospectively rated contracts (RRCs) by ceding and assuming enterprises and (20 sales and leasebacks of assets leased to other parties.
Two General Mills Senior Vice Presidents also will be assuming new and expanded responsibilities, and will report directly to Sanger:
0 billion in 2005, and assuming the company pays down current debt maturities of approximately $1.
65% of the issued and outstanding common shares of CTL assuming no other warrants are exercised), Durimport Marine Limited of Whitby, Ontario, beneficially owns 4,874,342 common shares of CTL (representing approximately 13.