Definition of Liability:

  1. The state of being responsible for something, especially by law.

  2. Law: (1) Responsibility for the consequences of ones acts or omissions, enforceable by civil remedy (damages) or criminal punishment. (2) An obligation to do or refrain from doing something.

  3. Accounting: Accounts and wages payable, accrued rent and taxes, trade debt, and short and long-term loans. Owners equity is also termed a liability because it is an obligation of the company to its owners. Liabilities are entered on the right-hand of the page in a double-entry bookkeeping system.

  4. Finance: A claim against the assets, or legal obligations of a person or organization, arising out of past or current transactions or actions. Liabilities require mandatory transfer of assets, or provision of services, at specified dates or in determinable future.

  5. A person or thing whose presence or behavior is likely to cause embarrassment or put one at a disadvantage.

Synonyms of Liability

Accountability, Responsibility, Legal responsibility, Answerability, A thing for, Accountability, Accountableness, Accounts payable, Accounts receivable, Affinity, Amenability, Amount due, Answerability, Answerableness, Aptitude, Aptness, Arrearage, Arrears, Bad debts, Barrier, Bent, Bias, Bill, Bills, Borrowing, Burden, Cast, Chance, Charges, Chits, Conatus, Conduciveness, Damage, Debit, Debt, Dedication to duty, Defenselessness, Delight, Detriment, Devotion to duty, Diathesis, Disadvantage, Disposition, Drawback, Due, Dues, Duteousness, Dutifulness, Eagerness, Encumbrance, Expectation, Exposure, Fair expectation, Favorable prospect, Feeling for, Financial commitment, Floating debt, Funded debt, Good chance, Handicap, Harm, Helplessness, Hindrance, Hitch, Hurt, Impairment, Impediment, Inclination, Incumbency, Indebtedness, Indebtment, Injury, Leaning, Likelihood, Likeliness, Liking, Loss, Loss of ground, Maturity, Mischief, Nakedness, National debt, Nonimmunity, Obligation, Obstacle, Obstruction, Odds, Onus, Openness, Outlook, Outstanding debt, Penchant, Pledge, Predilection, Predisposition, Prejudice, Presumption, Presumptive evidence, Probabilism, Probability, Proclivity, Proneness, Propensity, Prospect, Public debt, Readiness, Reasonable ground, Reasonable hope, Responsibility, Responsibleness, Score, Sense of duty, Sense of obligation, Sensitivity to, Snag, Soft spot, Step backward, Susceptibility, Tendency, Tropism, Turn, Twist, Uncollectibles, Unfulfilled pledge, Verisimilitude, Vulnerability, Warp, Weakness, Well-grounded hope, Willingness, Hindrance, Encumbrance, Burden, Handicap, Nuisance, Inconvenience

How to use Liability in a sentence?

  1. Florida financial and responsibility liability laws state that you as a home owner have liability rights regarding the liability of contracted workers getting injured while working at your home.
  2. The partners accept unlimited liability for any risks they undertake.
  3. He has become a political liability.
  4. Winners of the contest have a liability to report and pay any taxes associated with the cash and material prizes awarded from the company.
  5. The liability was too much for us to pursue that business plan because we did not want to expose our self to that much risk.

Meaning of Liability & Liability Definition


How To Define Liability?

  • A simple definition of Liability is: Any legally enforceable obligations. In the context of insurance, there is an obligation to prohibit damage or compensation due to negligence by law.

  • Definition of Liability: Obligation is an obligation or responsibility that belongs to another party or is obligatory. In insurance, the parties can be held responsible for personal injury, negligence, carelessness and many other things. Liability insurance is available to protect individuals or companies from liability losses that may result in legal action.

  • Obligations are something to which a person or business owes, usually a certain amount. Transfer of financial benefits from time to time removes obligations, including cash, goods or services. On the right side of the balance sheet, the liabilities include loans, accounts payable, mortgages, prepaid expenses, bonds, guarantees and provisions.

  • You can define Liability as, Third party liability for negligence as a result of injury or loss.

  • Definition of Liability: Liability insurance for losses claimed by employees, consumers, shareholders, investors or the public. Employers, self-employed and self-employed against the costs of negligence claims. Liability insurance generally covers the costs of third party compensation for personal injury and property damage.

  • Individual legal liability for material damage or injury to a third party.

  • Basically, any obligation that can be legally fulfilled. The term is often used to mean money.

Meanings of Liability

  1. The state of being responsible for something, especially in accordance with the law.

  2. A person or thing whose presence or behavior may embarrass or harm someone.

Sentences of Liability

  1. Lume l of partners. There are innumerable responsibilities that they understand

  2. Became a political loss


What is Liability?

Any financial expenses or amount due.

Liability refers to Liability or legal liability for injury or damage to a third party.

This is basically a legally enforceable obligation. The term is often used to mean money.

Nickname The conditions or conditions of the above exhibition.

Any obligation that can be fulfilled legally.


What is The Meaning of Liability?

  1. Liability can be defined as, Anything by which the company is legally bound or obligated to repair any damage or loss in a transaction.

  2. A key concept in corporate finance is the legal obligation to repay or repay a loan. Obligations are recognized in the short-term (one year or less payment) or long-term (paid after one year) and in the company's balance sheet. Accounts payable, salaries, taxes and company fees are considered liabilities.

  3. Liability means, Legal liability for damages to third parties due to injury or damage to your property.


How Do You Define Liability?

  1. The definition of Liability is: In the case of an insurance company, the financial obligations or loans that the company has are usually the policyholder.

  2. You can define Liability as, Legal liability for financial compensation for injuries or damage caused by negligence or illegal activities

  3. Meaning of Liability: Some losses or future economic benefits are likely to arise from past transactions or events as a result of the transfer of assets of a particular entity or current obligations to provide services to other companies in the future. Three key features: Duties or responsibilities compel a particular company, leaving little or no room for future sacrifices. And c) transactions or other events that require the company.

  4. Liability or liability that owes one company (creditors) to another company (thanks) for cash, goods or services.

  5. Legally enforceable liability for insurance means providing financial compensation for any loss or injury caused to another person by negligence or illegal acts.

  6. Liability definition is:

    When a person or organization is responsible for something, especially before the law. Liability insurance can cover legal fees and compensation costs. You may have to pay if you have evidence that you have harmed another person or business. It does not indicate your ability to lie, although it can lead to responsibility.


Liability Meanings:

Meaning of Liability:

When a person or organization assumes responsibility for something, especially before the law. Liability insurance can cover the costs of legal fees and compensation if you have to prove that you have harmed another person or business.