contingent liability
noun[C]
ukuspluralcontingent liabilities(alsocontingency liability)ACCOUNTING
adebtwhich mayoccurin thefutureifparticulareventsorsituationshappen, and which isincludedin a company'sfinancialrecords:
Thecompanyhadkeptitsshareholdersinformedabout theriskoflosingtheappealand hadcarriedthe £7m as acontingentliabilityinitsaccounts.