Soil Water Movement Water movement in soil is from a zone of relatively high to low water potential. Movement may occur by saturated or unsaturated liquid flow or in the vapor phase. Total water potential under saturated conditions may include gravitational and pressure components.
Whether the taxpayer is insolvent is a vital consideration in determining if debt forgiveness results in income to the taxpayer. However, the code, IRS, and the courts have not provided an adequate definition of the term, and there is confusion as to what assets and liabilities are to be included in its determination.
DEFINITION of 'Liability'. A company's legal debts or obligations that arise during the course of business operations. Liabilities are settled over time through the transfer of economic benefits including money, goods or services.ne form of liability, for example, would be the property taxes that a homeowner owes to the municipal government. Current liabilities are debts payable within one year, while long-term liabilities are debts payable over a longer period.