liability

[lahy-uh-bil-i-tee]

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.

liability

/ ˌlaɪəˈbɪlɪtɪ /

noun

1. the state of being liable

2. a financial obligation

3. a hindrance or disadvantage

4. likelihood or probability

liability

1. An obligation or debt.

Other Word Forms

• nonliability noun
• preliability noun

Word History and Origins

Origin of liability¹

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

Example Sentences

“Not having mobile queries at scale is a huge liability for them since the most important search signal is engagement,” one of Apple’s senior executives told another about Microsoft’s Bing.

Read more on The Wall Street Journal

Earlier this month, the Burbank-based nonprofit filed for Chapter 7 bankruptcy in Delaware court, saying it had $284,823 in liabilities, which include staff member salaries, insurance payments and credit card debt.

Read more on Los Angeles Times

“They’re going to naturally see that Australia is an asset, not a liability.”

Read more on The Wall Street Journal

David Levine, a professor of law at UC San Francisco, said Wednesday’s arrest ultimately didn’t seem to change the limited liability that public officials have in a fire through government immunity.

Read more on Los Angeles Times

To make sense of where the economy might be headed, MGI constructed a “global balance sheet” of the world’s assets and liabilities.

Read more on Barron's

Related Words

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