Liability (noun) Definition, Meaning & Examples

noun, plural li·a·bil·i·ties.
  1. liabilities,
    • moneys owed; debts or pecuniary obligations (opposed to assets).
    • liabilities as detailed on a balance sheet, especially in relation to assets and capital.
  2. something disadvantageous: His lack of education is his biggest liability.
  3. the state or quality of being liable: liability to disease.
noun plural -ties
  1. the state of being liable
  2. a financial obligation
  3. a hindrance or disadvantage
  4. likelihood or probability
Liability (noun) Definition, Meaning & Examples

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