Liability Definition

līə-bĭlĭ-tē
liabilities
noun
liabilities
The state of being liable.
Webster's New World
Anything for which a person is liable.
Webster's New World
A debt of a person or business, as a note payable or a long-term debenture.
Webster's New World
An account on a balance sheet showing this.
Webster's New World
Something that works to one's disadvantage.
Webster's New World

Other Word Forms of Liability

Noun

Singular:
liability
Plural:
liabilities

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