1. the state of being legally responsible for something, especially for paying money that is owed or for damage or injury
Usage: legal
2. a person or thing that causes problems or puts one at a disadvantage
3. debts or financial obligations that a person or company owes
Usage: business; accounting

Examples

• The company accepted liability for the accident.
• His lack of experience made him a liability to the team.
• The insurance policy covers liability for property damage.
• The business had more liabilities than assets.
• She worried about her liability if someone got hurt on her property.
• The new employee turned out to be more of a liability than an asset.
• The company’s total liabilities exceeded two million dollars.