Liability

Pronunciation: /ˌlaɪəˈbɪlɪtiː/

Liability (noun)

  1. money that a person or company owes to others.
  2. legal duty to pay for something or be responsible for something.
  3. something that causes problems or makes success harder.

Examples

  • The company has a liability to pay its debts.
  • He accepted liability for the loan.

Common collocations: assume liability, limited liability, financial liability, accept liability, liability insurance

Synonyms of Liability

Formal

Neutral

Antonyms of Liability

  • — In financial contexts, an asset is the opposite of a liability.