What is the meaning of contingent liability?

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ation/liability that arises from past events. Its existence is confirmed only by the occurrence or non-occurrence of one or more uncertain future events which a person cannot control wholly. (b) A .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X