Liability meaning

līə-bĭlĭ-tē
Frequency:
Liability is defined as the state of being responsible for something or something that someone is responsible for.

An example of liability is a person having to pay back student loans.

An example of liability is payment for a car accident.

noun
4
3
The state of being liable.
noun
1
0
Something that works to one's disadvantage.
noun
1
0
Liability that is jointly payable by multiple parties, of which none may be required to pay more than his or her share.
1
0
A legally enforceable obligation.
noun
1
1
Advertisement
Anything for which a person is liable.
noun
0
0
An obligation to make a payment to a person or company in exchange for a benefit that has been received or money that has been lent. The liability section on a company’s balance sheet is one of the three major parts of the balance sheet.
0
0
More generally, a debt or other legal obligation to pay an assessed amount (for example, taxes).
noun
0
0
Liability that is jointly payable by multiple parties, but that may (or must, depending on jurisdiction) be paid in full by one or more of them if the others are not to be found or are incapable of paying their share.
0
0
Liability that one is not obligated to pay unless the party with primary liability fails to make payment.
0
0
Advertisement
In tort law, a financial responsibility to compensate a harm in the absence of any negligence; an absolute responsibility to ensure the safe functioning of a dangerous instrumentality.
0
0
The liability of an employer or supervisor for the acts of an employee, based on the employer-employee or supervisory relationship. See respondeat superior.
0
0
The condition of being liable.
noun
0
0
An obligation, debt or responsibility owed to someone.
noun
0
0
A handicap that holds one back.
noun
0
0
Advertisement
The likelihood of something happening.
noun
0
0
The state of being liable.
noun
0
1
Something that holds one back; a handicap.
noun
0
1
Likelihood.
noun
0
1
Liability for which one is directly responsible, without the claimant being obligated to resort to any other source for payment.
0
1
Advertisement