Search results
- 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"
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.
Feb 25, 2024 · A liability (generally speaking) is something that is owed to somebody else. Liability can also mean a legal or regulatory risk or obligation. In accounting, companies book...
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:
the responsibility of a person, business, or organization to pay or give up something of value: [ U ] He denies any liability in the accident. [ Cusually pl ] The business has liabilities of $5 million. A liability is also anything that hurts your chances of success or that causes difficulties:
noun. , plural li·a·bil·i·ties. liabilities, Finance. moneys owed; debts or pecuniary obligations ( assets ). Accounting. liabilities as detailed on a balance sheet, especially in relation to assets and capital. something disadvantageous: His lack of education is his biggest liability.
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.
Definitions 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.
