The list of words are the learned vocabularies, phrases, and expressions during the class.
contingent liabilities
noun
a debt which may occur in the future if particular events or situations happen, and which is included in a company's financial records
Example: The company had kept its shareholders informed about the risk of losing the appeal and had carried the £7m as a contingent liability in its accounts.
default
verb
to fail to do something, such as pay a debt, that you legally have to do
Example: People who default on their mortgage repayments may have their home repossessed
In such a case
Transitional phrase
In situations like this; on such occasions
subject to sb/sth
Phrasal verb
to make someone or something experience an unpleasant or worrying thing
Example: The investigation found that they had been subjected to unfair treatment.