GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Liabilities


Synonyms:arrears, debts, financial liabilities, financial obligations, obligations
Filed Under: financial-banking, investments
Tags: banking, investment
 

Definition of liabilities

liabilities
1. A borrower's debts and legal obligations.

Related Terms and Acronyms:

  • acid-test ratio   A ratio that determines the liquidity of a company without requiring the company to sell assets or inventory.
  • caveat   To give warning, notice or caution; beware.
  • credit rating (CR)   A judgement of a person's ability to repay debts. The rating is often based on a person's current and projected income and past debt payment history. Also called a credit score.
      ➥  A metric to measure the credit worthiness of a debtor.
  • credit report (CR)   A report on a loan applicant's willingness and ability to make payments in a timely manner in the past. This report is provided to the bank by an outside agency.
      ➥  A report that outlines the credit worthiness of an individual or entity.
  • debt consolidation   The replacement of multiple loans with a single loan, often with a lower monthly payment and a longer repayment period. It's also called a consolidation loan. CanEquity has access to Canada's best debt consolidation products, for more info about debt consolidation see our debt consolidation page.
  • issuer   A legal entity that develops, registers, and sells securities including stocks, bonds and derivatives.
  • leverage   The use of a small amount of cash and a large loan to buy something.
  • protected cell company (SPC)   A company that separates its assets and liabilities into a number of 'cells' to shield itself and each 'cell' from losses.
  • solvency   To be able to meet one's financial liabilities in the short or long term.
  • tax liability   The total amount of tax you owe.

More Related Terms and Acronyms

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