LIABILITY • FREE TRANSLATOR.ORG • Definition of Liability

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/lˌaɪəbˈɪlɪti/ Listen

noun

Liability n. (pl. liabilities)

The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law.

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.

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Etymology of 'Liability'

Collaborative International Dictionary of English 0.48

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"Liability" Quotes from Famous Books

... who started the Near Eastern Wine Growers' Association. It prospered for a time because it was the only limited liability company which had a king on its Board of Directors. It failed in the end because the wine was so bad that nobody could drink it. It was Gorman who negotiated the sale of the Island of Salissa to a wealthy American. Madame Ypsilante got her famous pearl necklace out of the price ...

— Lady Bountiful - 1922 • George A. Birmingham

... abandonment. He could not feel it necessary to cut himself off entirely from the scenes and associations where temptation had met him. He considered not that, when the temperate flow of the blood and the even balance of the nerves have once been destroyed, there is, ever after, a double and fourfold liability, which often makes a man the sport of the ...

— The May Flower, and Miscellaneous Writings • Harriet Beecher Stowe

... to find himself, almost before he is well awake, in the midst of stifling smoke, obliged to face and to endure the power of roasting flames, to stand under cataracts of water, beside tottering walls and gables, or to plunge through smoke and flames, in order to rescue human lives. Liability to be called occasionally to the exercise of such courage and endurance is severe enough; it is what every soldier is liable to in time of war, and the lifeboat-man in times of storm; but to be liable to such calls several times ...

— Life in the Red Brigade - London Fire Brigade • R.M. Ballantyne

... word about "field work" as a teaching device. Field work usually means some sort of social service practice work under direction of a charitable agency, juvenile court, settlement, or playground. But beginning students are usually more of a liability than an asset to such agencies; they lack the time to supervise students' work, and field work without strict supervision is a farcical waste of time. If such agencies will accept a few students who have the learner's attitude rather than ...

— College Teaching - Studies in Methods of Teaching in the College • Paul Klapper

... the cause, however, justifies the statement of another ground which effectually disposes of any question of liability. ...

— World's War Events, Vol. I • Various

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