The Law Dictionary

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

NON-LIABILITY Definition & Legal Meaning

Law dictionary entry - legal definition of embargo

Definition & Citations:

A non-liability becomes a liability only when it becomes payable. For example, the contraction of a previously non-liable loan principle makes it a liability, but the loan interest is granted the status of a liability when a payment is due.

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