Examlex
Which of the following situations results in a contingent liability?
Lawsuit
A legal action initiated by one party against another in a court of law to enforce or defend a legal right.
Binding Arbitration
A dispute resolution process where an impartial third party renders a decision that is final and legally binding on all involved parties.
Enforcement Lawsuit
A legal action taken to ensure compliance with laws, regulations, or court orders, often initiated by a governing body or regulatory authority.
EEOC
The Equal Employment Opportunity Commission, a U.S. federal agency responsible for enforcing laws against workplace discrimination.
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