Recurring Liability
/rɪˈkɜːrɪŋ laɪəˈbɪlɪti/
Definitions
- (n.) An ongoing or repeated financial obligation that a party must fulfill, typically under contract or statutory duty.
The company recorded recurring liabilities for monthly lease payments in its financial statements.
Forms
- recurring liabilities
Related terms
See also
Commentary
Recurring liabilities often involve predictable, periodic payments and differ from one-time or contingent liabilities; clarity in contracts is essential to delineate such obligations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.