LIABILITY

liability

(noun) the quality of being something that holds you back

indebtedness, liability, financial obligation

(noun) an obligation to pay money to another party

liability

(noun) the state of being legally obliged and responsible

Source: WordNet® 3.1

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Noun

liability (countable and uncountable, plural liabilities)

An obligation, debt or responsibility owed to someone.

A handicap that holds something back, a drawback, someone or something that is a burden to whoever is required to take care of them; an individual or action that exposes others to greater risk.

The likelihood of something happening.

The condition of being susceptible to something.

Antonyms

• asset

Anagrams

• alibility

Source: Wiktionary

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Li`a*bil"i*ty, n.; pl. Liabilities (.

1. The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law.

2. That which one is under obligation to pay, or for which one is liable. Specifically, in the pl.,

Definition: the sum of one's pecuniary obligations; -- opposed to assets. Limited liability. See Limited company, under Limited.

Source: Webster’s Unabridged Dictionary 1913 Edition

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