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- Dictionaryliability/ˌlʌɪəˈbɪlɪti/
noun
- 1. the state of being legally responsible for something: "once you contact the card protection scheme your liability for any loss ends" Similar Opposite
- 2. a person or thing whose presence or behaviour is likely to put one at a disadvantage: "she said the party had become a liability to green politics" Similar Opposite
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Jun 28, 2024 · A liability is something a person or company owes, usually a sum of money. Payment can be either near- or long-term. Liability can also mean a legal risk or obligation.
LIABILITY definition: 1. the fact that someone is legally responsible for something: 2. debts: 3. something or someone…. Learn more.
Liability definition: moneys owed; debts or pecuniary obligations (opposed to assets).. See examples of LIABILITY used in a sentence.
the responsibility of a person, business, or organization to pay or give up something of value: [ U ] He denies any liability in the accident. [ C usually pl ] The business has liabilities of $5 million. A liability is also anything that hurts your chances of success or that causes difficulties:
1. a. : the quality or state of being liable. was cleared of liability for the accident. b. : probability. 2. : something for which one is liable. especially : pecuniary obligation : debt usually used in plural. business assets and liabilities. 3. : one that acts as a disadvantage : drawback.
If you say that someone or something is a liability, you mean that they cause a lot of problems or embarrassment. As the president's prestige continues to fall, they're beginning to consider him a liability.
noun. /ˌlaɪəˈbɪləti/ (plural liabilities) [uncountable] the state of being legally responsible for something. liability (for something) The company cannot accept liability for any damage caused by natural disasters. liability to somebody The company has liabilities to its employees.
