Definition of Liability Business Dictionary

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liability

This shows grade level based on the word's complexity.


noun, plural li·a·bil·i·ties.

liabilities,

  1. moneys owed; debts or pecuniary obligations (opposed to assets).
  2. Accounting. liabilities as detailed on a balance sheet, especially in relation to assets and capital.

something disadvantageous: His lack of education is his biggest liability.

Also li·a·ble·ness. the state or quality of being liable: liability to disease.

QUIZ

ARE YOU A TRUE BLUE CHAMPION OF THESE "BLUE" SYNONYMS?

We could talk until we're blue in the face about this quiz on words for the color "blue," but we think you should take the quiz and find out if you're a whiz at these colorful terms.

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OTHER WORDS FROM liability

non·li·a·bil·i·ty, noun, plural non·li·a·bil·i·ties. pre·li·a·bil·i·ty, noun, plural pre·li·a·bil·i·ties.

Words nearby liability

L'Hospital's rule, Lhotse, LHRH, li, liabilities, liability, liability engineering, liability insurance, liability limit, liable, liaise

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2021

How to use liability in a sentence

  • Now, the GOP is pushing to put corporate liability protections in any follow-up pandemic legislation so that businesses aren't held responsible if their workers or customers get sick.

  • The cases also shared a common theme of the "host companies" claiming they had no liability since they were not the workers' direct employers.

  • While the fire was burning, an attorney for Singh registered a new limited liability company, Regal Rose, at one of Singh's business addresses.

  • Prior to joining Google, Delaine Prado practiced media law and product liability law with Philadelphia law firms.

  • "If Congress extended vaccine liability protections to any institution that requires it, and insulated them, that would change the equation," he says.

  • No one saw them, and all of a sudden reports of being "difficult" were a real liability.

  • Except for in the Academy, where a low number seems to be a liability.

  • But will his racially charged rhetoric make him a liability instead?

  • The Japanese judges have established that yakuza bosses have "employer liability" for the actions of their subordinates.

  • And when it comes to liability litigation, as inevitably it will, Rolls Royce would seem to be off the hook.

  • The percentage of gold to the notes—the main demand liability—has, of course, fallen from about 65 to 35 per cent.

  • He was a large shareholder of the bank, and the liability of the shareholders was unlimited.

  • A claim barred by the statute of limitations is not provable, nor is a contingent liability.

  • In many states statutes exist defining their right to sue and be sued, and their liability to creditors.

  • In such incompetent hands the malt business soon fell to be a liability rather than an asset.

British Dictionary definitions for liability


noun plural -ties

the state of being liable

a financial obligation

a hindrance or disadvantage

likelihood or probability

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Cultural definitions for liability

The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Definition of Liability Business Dictionary

Source: https://www.dictionary.com/browse/liability

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