liability
Listen:Concise Oxford English Dictionary © 2008 Oxford University Press:
liability/lʌɪəˈbɪləti/
▶noun (pl. liabilities)
- 1 the state of being liable.
- 2 a thing for which someone is liable, especially a financial obligation.
- 3 a person or thing likely to put one at a disadvantage.
'liability' also found in these Oxford entries:
accept
- assignee
- assignment
- average
- cesser
- charge
- community
- cover
- debt security
- discharge
- exempt
- fix
- fixed charge
- floating charge
- general average
- joint and several
- knock-for-knock agreement
- limited company
- limited liability
- limited partner
- personal equity plan
- privilege
- provision
- public limited company
- quits
- self-assessment
- strict liability
- tax avoidance
- tax return
- tort
- underwrite
- unencumbered
