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- DictionaryLi·a·bil·i·ty/ˌlīəˈbilədē/
noun
- 1. the state of being responsible for something, especially by law: "the partners accept unlimited liability for any risks they undertake"
- 2. a person or thing whose presence or behavior is likely to cause embarrassment or put one at a disadvantage: "he has become a political liability"
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Feb 25, 2024 · What Is a Liability? A liability is something a person or company owes, usually a sum of money. Liabilities are settled over time through the transfer of economic benefits...
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:
Liabilities definition: business obligations incurred but not discharged and entered as claims on the assets shown on the balance sheet. See examples of LIABILITIES 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:
Liability definition: moneys owed; debts or pecuniary obligations (opposed to assets).. See examples of LIABILITY used in a sentence.
A liability is an obligation of a company that results in the company’s future sacrifices of economic benefits to other entities or businesses. A liability, like debt, can be an alternative to equity as a source of a company’s financing.
