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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

Contingent Liability  

Definition 1.

1. The possibility of an obligation to pay certain sums dependent on future events.2. Defined obligations by a company that must be met, but the probability of payment is minimal.
 

Definition 2.

Liability which is difficult to quantify, or which may or may not come to pass, such as an outstanding lawsuit.
 
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