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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. liability to do something The defendant admitted liability to compensate the claimant.
Nov 18, 2023 · Liability is a fundamental concept encompassing the notion of legal responsibility for one’s actions or omissions. It is a cornerstone in both civil and criminal law, dictating when and how individuals or organisations are held accountable for their conduct. At its core, legal liability means being legally responsible for something.
liability. n. one of the most significant words in the field of law, liability means legal responsibility for one's acts or omissions. Failure of a person or entity to meet that responsibility leaves him/her/it open to a lawsuit for any resulting damages or a court order to perform (as in a breach of contract or violation of statute).
liability. 4 senses: 1. the state of being liable 2. a financial obligation 3. a hindrance or disadvantage 4. likelihood or probability.... Click for more definitions.
traducir LIABILITY: responsabilidad, lastre, responsabilidad legal [feminine, singular], lastre [masculine, singular…. Más información en el diccionario inglés ...
Liability. A company's obligation to pay money to other people or businesses in the future is called a liability. This means that the company will not be able to make money in the future. A liability is a way for a business to get money different from equity. Also, some obligations, like accounts payable and income taxes payable, are important ...
Liability Meaning. Liability is a primary aspect of any business organisation and is often a definitive metric to gauge a company’s financial standing and well-being. It is crucial because liabilities imply that a company has to provide economic benefits to another entity in the future. A few liabilities examples are creditors, bank loans, etc.
