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liability Definition

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liability
noun(li-a-bil-i-ty)
the quality or state of being liable
liability
noun(li-a-bil-i-ty)
probability
liability
noun(li-a-bil-i-ty)
something for which one is liable; especially : pecuniary obligation : debt —usually used in plural
liability
noun(li-a-bil-i-ty)
liability (as of a stockholder or shipowner) limited by statute or treaty
liability
noun(li-a-bil-i-ty)
a partnership in which the partnership is liable as an entity for debts and obligations and the partners are not liable personally
liability
noun(li-a-bil-i-ty)
liability imposed without regard to fault

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