“Liability” means a debt or other legal obligation arising out of a transaction in the past which must be liquidated, renewed or refunded at some future date.
NRS 353.3087
“Liability” defined
(Added to NRS by 1977, 38; A 1987, 624)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.