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Definitions from the Web

Liability

Noun:

1. The state of being legally responsible for something, especially a debt or obligation.

Example sentence: He was unable to pay his rent and now he faces a great deal of financial liability.

2. The likelihood or probability of something causing loss or harm.

Example sentence: The company considered the potential liabilities before making the risky investment.

3. A person or thing whose presence or behavior is likely to put others at a disadvantage or in danger.

Example sentence: He proved to be a liability on the team, consistently making mistakes.

Adjective:

1. Legally responsible for something, especially a debt or obligation.

Example sentence: The liable party will have to compensate for the damages.

2. Involving the potential for loss or harm.

Example sentence: The company faced a potentially liable situation due to the faulty product.

Related Products:

Liability Law Books

Business Insurance