liability
/ˌlajəˈbɪləti/
noun
plural
liabilities
liability
/ˌlajəˈbɪləti/
noun
plural
liabilities
Britannica Dictionary definition of LIABILITY
1
[noncount]
:
the state of being legally responsible for something
:
the state of being liable for something
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The company is trying to limit its liability in this case.
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criminal liability [=the state of being responsible for a crime]
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The judge cleared me of any/all liability for the accident. [=the judge said that I was not responsible for the accident]
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2
[count]
:
something (such as the payment of money) for which a person or business is legally responsible
-
a tax liability [=taxes that will have to be paid]
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— usually plural
-
business assets and liabilities [=debts]
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3
[count]
:
someone or something that causes problems
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His small size was a liability (to him) as a football player.
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This scandal has made the vice president a liability (for this administration).
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