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Definitions from the Web

Liability

A liability refers to a legal obligation or responsibility an individual, organization, or entity holds. It represents a debt or potential loss that may arise from past or current actions, events, or transactions.

1. Noun - Financial Liability:

- Definition: A financial obligation or debt that an individual or organization owes to another party.

- Example Sentence: The company incurred a significant liability after breaching the terms of the contract.

2. Noun - Legal Liability:

- Definition: The state of being responsible or accountable for one's actions under the law.

- Example Sentence: The driver faced legal liability for causing the accident.

3. Noun - Product Liability:

- Definition: The legal liability of manufacturers, sellers, or distributors for injuries or damages caused by their defective products.

- Example Sentence: The company had to pay substantial compensation due to a product liability lawsuit.

4. Noun - Personal Liability:

- Definition: The liability an individual holds for their own actions or debts.

- Example Sentence: He was concerned about his personal liability if the business venture failed.

5. Noun - Environmental Liability:

- Definition: The legal liability for the costs associated with environmental damage or pollution caused by an individual or organization.

- Example Sentence: The industrial plant was held accountable for the environmental liability resulting from the toxic waste discharge.

Possible Related Products on Amazon:

- Liability Insurance: [link to search results on Amazon]

- Legal Forms and Contracts: [link to search results on Amazon]

- Personal Finance Management Books: [link to search results on Amazon]

- Product Liability Law Books: [link to search results on Amazon]

- Environmental Protection Equipment: [link to search results on Amazon]

Please note that the term "liabiltay" appears to be a misspelling of "liability."