assume liability for

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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 ?
The lawsuit alleges that after Pelfrey died on July 15 the estate assumed liability for discriminatory housing practices.
BP is not entitled to coverage under the Transocean insurance policies for damages arising from subsurface pollution because BP, not Transocean, assumed liability for those claims, the court held.
In this sense, the ruling party has assumed liability for the corruption charges.
The payments totalled PS9m in one season alone and newco Rangers assumed liability for the liquidated company's football debts when the club's membership of the SFA was transferred in 2012.
The FRG also argues that even if it assumed liability for the West German bonds, the commercial activity exception would not apply to the (West German) bonds because Mortimer failed to satisfy settlement conditions by not complying with the validation procedures.
Horizon has also assumed liability for trust preferred securities of American Trust's parent AmTru Inc, in the amount of USD3.5m.