N.Y. Comp. Codes R. & Regs. Tit. 10 § 441.175 - Indirect liability
(a) An
obligation not yet incurred but for which responsibility may have to be assumed
in the future; as, the possible liability from the premature settlement of a
long-term contract.
(b) A debt of
another, as the result of which an obligation to pay may develop; a contingent
liability.
Notes
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