liability

25 ENTRIES FOUND:

li·a·bil·i·ty

noun \ˌlī-ə-ˈbi-lə-tē\

: the state of being legally responsible for something : the state of being liable for something

: something (such as the payment of money) for which a person or business is legally responsible

: someone or something that causes problems

plural li·a·bil·i·ties

Full Definition of LIABILITY

1
a :  the quality or state of being liable
b :  probability
2
:  something for which one is liable; especially :  pecuniary obligation :  debt —usually used in plural
3
:  one that acts as a disadvantage :  drawback

Examples of LIABILITY

  1. The company is trying to limit its liability in this case.
  2. <a retired football player whose chief asset—his prodigious girth—has now become a liability>

First Known Use of LIABILITY

1705

Other Legal Terms

actionable, alienable, carceral, chattel, complicity, decedent, larceny, malfeasance, modus operandi

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