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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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LIABILITY definition: 1. the fact that someone is legally responsible for something: 2. debts: 3. something or someone…. Learn more.
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.
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.
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.
LIABILITY definition: 1. legal responsibility for something: 2. someone or something that is likely to cause you a lot…. Learn more.
If you say that someone or something is a liability, you mean that they cause a lot of problems or embarrassment. Team-mates and coach began to see him as a liability. What was once a vote-catching policy is now a political liability. Synonyms: disadvantage, burden, drawback, inconvenience More Synonyms of liability.
The condition or state of being held legally responsible. An obligation or burden one is bound to, legally or morally. A monetary obligation that needs to be fulfilled in the future. The state of being obligated to answer to someone else through legal means or sanctions.
From Longman Business Dictionary li‧a‧bil‧i‧ty /ˌlaɪəˈbɪləti/ noun (plural liabilities) 1 [ countable usually plural] an amount of money owed by a business to a supplier, lender etc In its bankruptcy filing, the company listed liabilities of $363.7 million and assets of $141.3 million.
