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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.
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.
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:
Liability definition: moneys owed; debts or pecuniary obligations (opposed to assets).. See examples of LIABILITY used in a sentence.
A liability is a debt or obligation or a personal flaw that stands in your way. A company's liabilities are simply the debts on its ledger, but a personal liability might be your extreme shyness in social situations. Depending on how you use it, the word liability has very different meanings.
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.
