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Opinion: Wacky Warning Labels Are No Joke
Jun 8th 2010 – 5:23AM
Foundation for Fair Civil Justice
(June 8) -- Imagine what would happen if all the warning labels disappeared from our everyday lives. Would the world come to an end, in chaos, with a torrent of lost limbs and explosions? Or would ordinary common sense take over? After 13 years as host of the annual Wacky Warning Labels Contest, I can testify that there...
Background on liability
In financial accounting, a liability is defined as an obligation of an entity arising from past transactions or events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future.
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