liability

American  

[lahy-uh-bil-i-tee] / ˌlaɪ əˈbɪl ɪ ti /

noun

plural

liabilities

1. liabilities,

   1. Finance. moneys owed; debts or pecuniary obligations (assets ).

   2. Accounting. 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. Also liableness the state or quality of being liable.

   liability to disease.

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liability British  

/ ˌlaɪəˈbɪlɪtɪ /

noun

1. the state of being liable

2. a financial obligation

3. a hindrance or disadvantage

4. likelihood or probability

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liability Cultural  

1. An obligation or debt.

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Other Word Forms

• nonliability noun
• preliability noun

Etymology

Origin of liability

First recorded in 1785–95; li(able) + -ability

Example Sentences

An alarming nugget buried in the Treasury Department’s annual report External link on the federal government’s books from the last fiscal year: Its long-term liabilities exceed its expected revenue by tens of trillions of dollars.

From Barron's

The proposal aims to shield plans from Erisa liability, if they carefully consider a private manager’s performance, fees, liquidity, and valuation practices.

From Barron's

We are leveling the playing field so that plan fiduciaries can exercise their judgment—selecting plan investments without fear of undue liability.

From The Wall Street Journal

What they didn’t know was that Sora had quietly turned into a liability for OpenAI in the months after its release, particularly as the startup tightened its focus ahead of a looming IPO.

From The Wall Street Journal

Others, however, see that approach as a liability in competitive races.

From Barron's

Related Words

• damage
• inconvenience
• involvement
• loan
• mortgage
• obligation
• responsibility