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liability

Line breaks: li¦abil|ity
Pronunciation: /lʌɪəˈbɪlɪti
 
/

Definition of liability in English:

noun (plural liabilities)

1 [mass noun] The state of being legally responsible for something: once you contact the card protection scheme your liability for any loss ends
More example sentences
  • She gave birth to a healthy child, and the respondents accepted liability for negligence.
  • The distinction between liability for acts and liability for omissions is well known.
  • There is no legal prohibition denying the Community the right to accept liability for private acts of its servants.
Synonyms
1.1 [count noun] (usually liabilities) A thing for which someone is responsible, especially an amount of money owed: valuing the company’s liabilities and assets
More example sentences
  • For the other sectors, balance sheet data are limited to financial assets and liabilities.
  • We want to retire with the largest possible pot of assets and the least amount of liabilities.
  • This will include taking into account accrued liabilities and assets.
Synonyms
financial obligation, debt, indebtedness, debit;
(liabilities)debts, arrears, dues
2 [usually in singular] A person or thing whose presence or behaviour is likely to put one at a disadvantage: she said the party had become a liability to green politics
More example sentences
  • One could expect that Junior's presence will become a liability once he spells out his plan.
  • When wildlife is perceived to be a danger and a liability, it compromises the very basis of conservation.
  • Girls would not be seen as a burden or a liability if they were guaranteed an equal right to inheritance and property.
Synonyms
hindrance, encumbrance, burden, handicap, nuisance, inconvenience;
obstacle, impediment, drawback, drag, disadvantage, weakness, shortcoming, problem, weak spot/point;
millstone round one's neck, stumbling block, cross to bear, cross, albatross;
Achilles heel
archaic cumber

Definition of liability in:

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