Perhaps my master might refine a little in these speculations, which he had drawn from what he observed himself, or had been told him by others; however, I could not reflect without some amazement, and much sorrow, that the rudiments of lewdness, coquetry, censure, and scandal, should have place by instinct in womankind.
Financial Liability. Definition: Under international financial reporting standards, a financial liability can be either of these two items: 1  A contractual obligation to deliver cash or similar to another entity or a potentially unfavorable exchange of financial assets or liabilities with another entity.efinition: Under international financial reporting standards, a financial liability can be either of these two items: 1  A contractual obligation to deliver cash or similar to another entity or a potentially unfavorable exchange of financial assets or liabilities with another entity.
DEFINITION of 'Adjusted Liabilities'. The liabilities of an insurance company that differ from the company's statutory liabilities due to adjustments. It is calculated by taking the statutory liability and subtracting the interest maintenance reserve and asset valuation reserve. Statutory liabilities are the insurance company's liabilities as determined by the applicable accounting rules. Insurance companies are required by the National Association of Insurance Commissioners (NAIC) to maintain the aforementioned reserves as a cushion for potential equity and credit losses.