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Contingent liability

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 August 2013 please give 5 examples on possible obligation and present obligation with regards contingent liability
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
31 August 2013 Possible obligation
1.Bank guarantee given
2.Pending case against the company in any court
3. Damages clause in any contract agreement

Present obligation

1. Case are given judgement against the company and damage yet to finalise

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