Amount payable in dollars (e.g., notes payable) or future services to be rendered (e.g., contractor services payable). The party having the liability is referred to as the debtor. There are various types of liabilities in connection with real estate. An actual liability actually exists and has a stated amount (e.g., accounts payable). An estimated liability also actually exists, but the amount has to be predicted (e.g., estimated tax liability). These liabilities are presented in the balance sheet. A contingent liability is one that may or may not become due (e.g., a pending lawsuit). It is only footnoted in the real estate company's financial statements.