Current Liabilities Law and Legal Definition
Current liabilities are defined as "all liabilities of an individual except the liability for the indebtedness secured by the trust deed and any indebtedness incurred in connection with the acquisition of equipment and machinery incident to the business of the individual." Agar Packing & Provision Corp. v. Comm'r, 1945 Tax Ct. Memo LEXIS 308 (T.C. Feb. 7, 1945)
Legal Definition list
- Current Intelligence
- Current Illegal Use of Drugs
- Current Expenditures [Education]
- Current Continuous Service [Administrative Personnel]
- Current Assets
- Current Liabilities
- Current Licensing Basis - CLB [Energy]
- Current Market Price
- Current Market Value Buyout [Agriculture]
- Current Market Value of a Security
- Current Monthly Income (Bankruptcy)
