Crystallised liability
A liability that has moved from potential or contingent to an actual, enforceable amount owed.
Related terms
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Crystallised amount
The amount of a previously contingent, variable or unquantified liability once it has become fixed and payable.
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Guarantee liability
The amount or obligation a guarantor may have to pay under the wording of a valid and enforceable guarantee.
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Liability cap
A contractual limit on the maximum amount a party can be required to pay under a particular obligation, such as a guarantee.
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