Other Definitions
liability (enc)

Liability

Noun1.liability - the state of being legally obliged and responsible
susceptibility, susceptibleness - the state of being susceptible; easily affected
taxability - liability to taxation
ratability, rateability - the state of being liable to assessment or taxation
2.liability - an obligation to pay money to another party
limited liability - the liability of a firm's owners for no more than the capital they have invested in the firm
obligation - the state of being obligated to do or pay something; "he is under an obligation to finish the job"
debt - the state of owing something (especially money); "he is badly in debt"
arrears - the state of being behind in payments; "an account in arrears"
account payable - a liability account showing how much is owed for goods and services purchased on credit
scot and lot - obligations of all kinds taken as a whole
3.liability - the quality of being something that holds you back
bad, badness - that which is below standard or expectations as of ethics or decency; "take the bad with the good"
weak point - an attribute that is inadequate or deficient
disadvantage - the quality of having an inferior or less favorable position
asset, plus - a useful or valuable quality

 

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