liability (Meaning)

Wordnet

liability (n)

the state of being legally obliged and responsible

an obligation to pay money to another party

the quality of being something that holds you back

Webster

liability (n.)

The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law.

That which one is under obligation to pay, or for which one is liable.

the sum of one's pecuniary obligations; -- opposed to assets.

liability Sentence Examples

  1. The company incurred a significant liability due to a lawsuit alleging product defects.
  2. Individuals with high credit scores are considered lower-liability borrowers.
  3. The insurance policy provided coverage for potential liabilities arising from workplace accidents.
  4. The hospital was held liable for the patient's injuries as a result of medical negligence.
  5. Homeowners are legally liable for any injuries or damages sustained by visitors on their property.
  6. Credit cards can be a source of revolving debt, which can create ongoing liabilities.
  7. Businesses must carefully assess their potential liabilities when making business decisions.
  8. The government has implemented regulations to protect consumers from defective products and reduce producer liability.
  9. Environmental liabilities can result from improper disposal of hazardous materials.
  10. Financial institutions have strict guidelines in place to minimize their credit liabilities.

FAQs About the word liability

the state of being legally obliged and responsible, an obligation to pay money to another party, the quality of being something that holds you backThe state of

handicap,disadvantage, debit, disbenefit, drawback, downside, strike, incommodity, minus, negative

control, advantage, margin, edge, plus, advantage, margin, edge, plus, asset

The company incurred a significant liability due to a lawsuit alleging product defects.

Individuals with high credit scores are considered lower-liability borrowers.

The insurance policy provided coverage for potential liabilities arising from workplace accidents.

The hospital was held liable for the patient's injuries as a result of medical negligence.