The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

LONG TERM LIABILITY Definition & Legal Meaning

Definition & Citations:

A year or more in the future, either from the balance sheet date or today, this obligation is due in goods or services. Disclosing its long-term liabilities with their interest rates, other charges and date of maturity in its balance sheet is a firm’s duty.

Disclaimer

This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.