liability

American  

[lahy-uh-bil-i-tee] / ˌlaɪ əˈbɪl ɪ ti /

noun

plural

liabilities

1. liabilities,

   1. Finance. moneys owed; debts or pecuniary obligations (assets ).

   2. Accounting. liabilities as detailed on a balance sheet, especially in relation to assets and capital.

2. something disadvantageous.

   His lack of education is his biggest liability.

3. Also liableness the state or quality of being liable.

   liability to disease.

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liability British  

/ ˌlaɪəˈbɪlɪtɪ /

noun

1. the state of being liable

2. a financial obligation

3. a hindrance or disadvantage

4. likelihood or probability

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liability Cultural  

1. An obligation or debt.

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Other Word Forms

• nonliability noun
• preliability noun

Etymology

Origin of liability

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

Example Sentences

The 2008 financial crisis represents another infamous example of expanding liabilities without necessary capital.

From The Wall Street Journal

The Indian bank has built a robust liabilities franchise and shifted from a wholesale-led lender to a retail-focused model, the analysts say.

From The Wall Street Journal

The secretary has long wanted to overhaul the vaccine schedule to reduce liability protection for manufacturers under the 1986 National Vaccine Injury Compensation Program.

From The Wall Street Journal

If it falls on the individual officers as well, they will risk criminal liability and sanction if they sit on their hands whilst the corporate body lies to inquiries and courts.

From BBC

Your skepticism is an asset, not a liability.

From MarketWatch

Related Words

• damage
• inconvenience
• involvement
• loan
• mortgage
• obligation
• responsibility