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

But in addition to water damage and liability protection, it doesn’t cover such common perils as theft and the damage caused by trees falling on a house.

From Los Angeles Times

Depth and nuance become a liability, but shouldn’t.

From The Wall Street Journal

Banks are expected to continue active liability management to protect net interest margins, she says.

From The Wall Street Journal

Paramount confirmed that the Ellison family trust owns about 1.16 billion shares of Oracle common stock and that all material liabilities are publicly disclosed.

From Los Angeles Times

Alternatively, regulatory or liability hurdles could slow progress, as governments grapple with privacy and other implications of AI-driven automation in sensitive areas like tax compliance.

From The Wall Street Journal

Related Words

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