liability

[ lahy-uh-bil-i-tee ]

/ ˌlaɪ əˈbɪl ɪ ti /

SEE MORE SYNONYMS FOR liability ON THESAURUS.COM

noun, plural li·a·bil·i·ties.

liabilities,

moneys owed; debts or pecuniary obligations (opposed to 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.

Also li·a·ble·ness. the state or quality of being liable: liability to disease.

RELATED WORDS

Nearby words

li yüan, li-fraumeni cancer syndrome, li-sao, lia, liabilities, liability, liability engineering, liability insurance, liability limit, liable, liaise

Origin of liability

First recorded in 1785–95; li(able) + -ability

Related formsnon·li·a·bil·i·ty, noun, plural non·li·a·bil·i·ties.pre·li·a·bil·i·ty, noun, plural pre·li·a·bil·i·ties.

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019

Examples from the Web for liabilities

That means insurers are involved in assessing both the liabilities involved in the airplane itself and of the airline.
Flight 370 Didn’t Disappear: We Missed It|Clive Irving|March 24, 2014|DAILY BEAST
LS Fashion Limited is fully able to meet the company's liabilities and pay all suppliers and customers.
L’Wren Scott Was Not Closing Label|Erin Cunningham|March 21, 2014|DAILY BEAST
Bush has the liabilities everyone knows—his last name, mostly, and that fire-in-the-belly business.
Christie and the 7 Dwarves|Michael Tomasky|February 5, 2014|DAILY BEAST
The liabilities are there and if you want to take them, go for it.
The Hit Heard Around the World|Rich Cohen|November 7, 2013|DAILY BEAST

If the outcome is that they do reduce some of these liabilities, that could be an incentive for the filing.
Wall Street’s Disconnect|Daniel Gross|October 22, 2013|DAILY BEAST
Under this bond he pledged himself to pay off his liabilities at the rate of £120 a month.
George Morland|Edward D. Cuming
Balzac's liabilities, at the moment of the failure, were one hundred and thirteen thousand francs.
Balzac|Frederick Lawton
Sir Stafford, who only learned about the half of his son's liabilities, was thunderstruck at the amount.
The Daltons, Volume I (of II)|Charles James Lever
Having succeeded thus to the titles and estates of his predecessor, he succeeded also to his liabilities, debts, and engagements.
The Memoirs of Louis XIV., His Court and The Regency, Complete|Duc de Saint-Simon
As a rule, the liabilities are paid (if possible), from the cash funds on hand, leaving the net assets for division.
Cyclopedia of Commerce, Accountancy, Business Administration, v. 4|Various

British Dictionary definitions for liabilities (1 of 2)

liabilities

/ (ˌlaɪəˈbɪlɪtɪz) /

pl n

accounting business obligations incurred but not discharged and entered as claims on the assets shown on the balance sheetCompare assets (def. 1)

British Dictionary definitions for liabilities (2 of 2)

liability

/ (ˌlaɪəˈbɪlɪtɪ) /

noun plural -ties

the state of being liable

a financial obligation

a hindrance or disadvantage

likelihood or probability

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Word Origin and History for liabilities

liability

1790, originally a term in law; "condition of being legally liable;" see liable + -ity. General sense is from 1809; meaning "thing for which one is liable" is first attested 1842. Related: Liabilities.

Culture definitions for liabilities

liability

An obligation or debt.