Aug 19, 2025 · A liability is anything that's borrowed from, owed to, or obligated to someone else. It can be real like a bill that must be paid or potential such as a possible lawsuit.

The meaning of LIABILITY is the quality or state of being liable. How to use liability in a sentence.

Nov 17, 2025 · In accounting, a liability is any financial obligation that requires future payment of money, goods, or services. Simply put, it’s what your business owes to others.

LIABILITY meaning: 1 : the state of being legally responsible for something the state of being liable for something; 2 : something (such as the payment of money) for which a person or …

LIABILITY meaning: 1. the fact that someone is legally responsible for something: 2. debts: 3. something or someone…. Learn more.

Definition of liability noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.

Jun 26, 2025 · What Is Liability? Liability refers to one party’s legal responsibility for their actions or omissions, which have harmed or damaged another party. This responsibility is assessed …

Learn what is a liability and its types, including current, non-current, contingent, and doubtful liabilities, and how they impact financial statements.

If you say that someone or something is a liability, you mean that they cause a lot of problems or embarrassment. Team-mates and coach began to see him as a liability. What was once a vote …

a. moneys owed; debts or pecuniary obligations (opposed to assets). b. liabilities as detailed on a balance sheet, esp. in relation to assets and capital. 2. something disadvantageous: His lack …