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Updated: May 11, 2025
This observation is truer now than ever. Consider deposit insurance, provided by virtually every government in the world. It allows the banks to pay to depositors interest rates which do not reflect the banks' inherent riskiness. As the costs of their liabilities decline to unrealistic levels -banks misprice their assets as well.
It becomes necessary, therefore, to guard the human soul against these liabilities which attend it in its forming period. And, next to a deep and all-absorbing love of God, there is nothing so well adapted to protect against sudden surprisals, as a profound and definite fear of God.
There was no general table set, with the usual liabilities of rush and crush; but four or five well-kept rooms, fragrant with flowers and sparkling with silver and crystal, were ready at any hour to minister to the guest whatever delicacy or dainty he or she might demand; and light-footed waiters circulated with noiseless obsequiousness through all the rooms, proffering dainties on silver trays.
There was a skeleton in the house, as he well knew. The bottomless extravagance and the unknown liabilities of the wife had long since swallowed her own fortune, and threatened day by day to engulf that of the husband.
A being of higher faculties requires more to make him happy, is capable probably of more acute suffering, and is certainly accessible to it at more points, than one of an inferior type; but in spite of these liabilities, he can never really wish to sink into what he feels to be a lower grade of existence.
Finally, if a master smote out his servant's tooth the law smote out his tooth thus redressing the public wrong; and it cancelled the servant's obligation to the master, thus giving some compensation for the injury done, and exempting him form perilous liabilities in future.
If, now, the ordinary liabilities in tort arise from failure to comply with fixed and uniform standards of external conduct, which every man is presumed and required to know, it is obvious that it ought to be possible, sooner or later, to formulate these standards at least to some extent, and that to do so must at last be the business of the court.
That term includes a "statutory power of decision". Since liberalizing amendments made in 1977, "statutory power" includes power conferred by or under any Act "to make any investigation or inquiry into the rights, powers, privileges, immunities, duties, or liabilities of any person" and "statutory power of decision" includes power conferred by or under any Act "to make a decision ... affecting" any such rights, powers, privileges, duties or liabilities.
He peered in the darkness, and was visible as a narrow, black-moustached face, with heavy eyebrows and a brutal mouth. The one thing that deterred him from brisk action was the fact that Lucas was a foreigner, whose rights and liabilities were therefore uncertain. "This woman," he said, "is arrested." Lucas was unlocking the door. He turned with his hand on the key, and the woman touched his arm.
A dozen eager voices assured "the gentleman" there was no crime in the matter at all there was even no just debt, but it was a villanous scheme to compel a wronged ward to release a fraudulent guardian from his liabilities.
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