Dictionary
Thesaurus
Sentence Examples

Dictionary Home » Dictionary Definitions » liability

liability

Listen See in Thesaurus See in a sentence

Liability is defined as the state of being responsible for something or something that someone is responsible for.

(noun)

An example of liability is a person having to pay back student loans.
An example of liability is payment for a car accident.

YourDictionary definition and usage example. Copyright © 2013 by LoveToKnow Corp.

See liability in Webster's New World College Dictionary

noun pl. liabilities

the state of being liable
anything for which a person is liable
Accounting
1. a debt of a person or business, as a note payable or a long-term debenture
2. an account on a balance sheet showing this
something that works to one's disadvantage

See liability in American Heritage Dictionary 4

noun pl. li·a·bil·i·ties

The state of being liable.
a. Something for which one is liable; an obligation, responsibility, or debt.
b. liabilities The financial obligations entered in the balance sheet of a business enterprise.
Something that holds one back; a handicap.
Likelihood.

Learn more about liability

liability synonyms

liability business definition

liability Culture

liability investment & finance

liability legal definition

liability in a sentence

liability quotes

link/cite print suggestion box

More from YD

apportionment of liability

contingent liability

joint and several liability

joint liability

limited liability

limited liability partnership

long-term liability

parental liability

primary liability

product liability

» more results...

About YourDictionary Advertisers Contact Us Privacy Policy Terms of Use Help
© 1996-2013 LoveToKnow, Corp. All Rights Reserved. Audio pronunciation provided by LoveToKnow, Corp.