Fixed liability

Definition
: a liability (as a bond or mortgage) that does not mature for at least one year from the date incurred or from a given date
b  : accountability and responsibility to another enforceable by civil remedies or criminal sanctions <~ for injuries caused by their product>



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Based on Merriam-Webster's Dictionary of Law ©2001.
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lien creditor

a creditor who is secured by a lien (as by attachment)


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