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Meaning of LIABILITY

Pronunciation:  `lIu'bilitee

WordNet Dictionary
  1. [n]  the quality of being something that holds you back
  2. [n]  an obligation to pay money to another party
  3. [n]  the state of being legally obliged and responsible

LIABILITY is a 9 letter word that starts with L.


 Synonyms: financial obligation, indebtedness
 Antonyms: asset, plus
 See Also: account payable, arrears, bad, badness, debt, disadvantage, limited liability, obligation, ratability, rateability, scot and lot, susceptibility, susceptibleness, taxability, weak point



Webster's 1913 Dictionary
\Li`a*bil"i*ty\ (l[imac]`[.a]*b[i^]l"[i^]*t[y^]), n.;
pl. {Liabilities} (-t[i^]z).
1. The state of being liable; as, the liability of an
   insurer; liability to accidents; liability to the law.

2. That which one is under obligation to pay, or for which
   one is liable. Specifically, in the pl., the sum of one's
   pecuniary obligations; -- opposed to {assets}.

{Limited liability}. See {Limited company}, under {Limited}.

Thesaurus Terms
 Related Terms: a thing for, accountability, accountableness, accounts payable, accounts receivable, affinity, amenability, amount due, answerability, answerableness, aptitude, aptness, arrearage, arrears, bad debts, barrier, bent, bias, bill, bills, borrowing, burden, cast, chance, charges, chits, conatus, conduciveness, damage, debit, debt, dedication to duty, defenselessness, delight, detriment, devotion to duty, diathesis, disadvantage, disposition, drawback, due, dues, duteousness, dutifulness, eagerness, encumbrance, expectation, exposure, fair expectation, favorable prospect, feeling for, financial commitment, floating debt, funded debt, good chance, handicap, harm, helplessness, hindrance, hitch, hurt, impairment, impediment, inclination, incumbency, indebtedness, indebtment, injury, leaning, likelihood, likeliness, liking, loss, loss of ground, maturity, mischief, nakedness, national debt, nonimmunity, obligation, obstacle, obstruction, odds, onus, openness, outlook, outstanding debt, penchant, pledge, predilection, predisposition, prejudice, presumption, presumptive evidence, probabilism, probability, proclivity, proneness, propensity, prospect, public debt, readiness, reasonable ground, reasonable hope, responsibility, responsibleness, score, sense of duty, sense of obligation, sensitivity to, snag, soft spot, step backward, susceptibility, tendency, tropism, turn, twist, uncollectibles, unfulfilled pledge, verisimilitude, vulnerability, warp, weakness, well-grounded hope, willingness