liability Definition and Meaning in English (liability definition)
nounLiability definition: A liability is a legal obligation or responsibility to pay or do something, especially a debt owed to another party.
Definitions of Liability
- 1noun(formal)
A liability is a legal obligation or responsibility to pay or do something, especially a debt owed to another party.
- 2noun(colloquial)
In a broader sense, a liability can refer to a person or thing that causes a disadvantage or is a burden.
Example Sentences
“The company has significant liabilities on its balance sheet.”
“His lack of experience was a major liability to the team.”
“The new law imposes a strict liability on manufacturers.”
Synonyms
Topics & Categories
Topic & ExploreInflected Word Forms
Phrases & Idiomatic Expressions
Legal responsibility for damages or injury, even if the person was not at fault or negligent.
A legal structure where a person's financial responsibility is limited to a fixed sum, most commonly the value of a person's investment in a company.
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