Liabilities



[lahy-uh-bil-i-tee] /ˌlaɪ əˈbɪl ɪ ti/

noun, plural liabilities.
1.
liabilities.

2.
something disadvantageous:
His lack of education is his biggest liability.
3.
Also, liableness. the state or quality of being liable:
liability to disease.
/ˌlaɪəˈbɪlɪtɪz/
plural noun
1.
(accounting) business obligations incurred but not discharged and entered as claims on the assets shown on the balance sheet Compare assets (sense 1)
/ˌlaɪəˈbɪlɪtɪ/
noun (pl) -ties
1.
the state of being liable
2.
a financial obligation
3.
a hindrance or disadvantage
4.
likelihood or probability
n.

1790, originally a term in law; “condition of being legally liable;” see liable + -ity. General sense is from 1809; meaning “thing for which one is liable” is first attested 1842. Related: Liabilities.

An obligation or debt.

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  • Liability

    [lahy-uh-bil-i-tee] /ˌlaɪ əˈbɪl ɪ ti/ noun, plural liabilities. 1. liabilities. 2. something disadvantageous: His lack of education is his biggest liability. 3. Also, liableness. the state or quality of being liable: liability to disease. /ˌlaɪəˈbɪlɪtɪ/ noun (pl) -ties 1. the state of being liable 2. a financial obligation 3. a hindrance or disadvantage 4. likelihood […]

  • Liability engineering

    noun (commerce) 1. the practice by a company of taking steps to avoid liability for any fraudulent dealings with it, such as making a credit-card owner responsible for any abuses of the card by a third party



  • Liability-insurance

    noun 1. insurance covering the insured against losses arising from injury or damage to another person or property.

  • Liability-limit

    noun 1. the highest amount that a liability insurer will pay on a single claim.



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