liability Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “liability” in the English Dictionary

"liability" in British English

See all translations

liabilitynoun

uk   /ˌlaɪ.əˈbɪl.ɪ.ti/  us   /-ə.t̬i/
  • liability noun (RESPONSIBILITY)

C1 [U] the ​fact that someone is ​legallyresponsible for something: He ​denies any liability for the ​damagecaused.liabilities [plural] specialized debts: The ​business has liabilities of 2 million ​euros.
Compare

expend iconexpend iconMore examples

(Definition of liability from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"liability" in American English

See all translations

liabilitynoun [C/U]

 us   /ˌlɑɪ·əˈbɪl·ɪ·t̬i/
the ​responsibility of a ​person, ​business, or ​organization to ​pay or give up something of ​value: [U] He ​denies any liability in the ​accident. [C usually pl] The ​business has liabilities of $5 million. A liability is also anything that ​hurtsyourchances of ​success or that ​causesdifficulties: [C] Not having ​our own ​deliverytrucks is a liability in ​ourbusiness.
(Definition of liability from the Cambridge Academic Content Dictionary © Cambridge University Press)

"liability" in Business English

See all translations

liabilitynoun

uk   us   /ˌlaɪəˈbɪləti/ (plural liabilities)
[C] ACCOUNTING, FINANCE the ​amount of ​money that a ​person or ​organizationowes: He listed liabilities of more than $3 million. The ​company will also have to show that it has a liability of $600.
[U] LAW legalresponsibility for something: liability for sth Warning ​notices may not be enough to absolve a ​propertyowner of liability for visitors' ​injuries. They still haven't admitted liability for the ​crash which ​ruined so many ​lives. The army denied liability but ​agreed to make an ​out-of-courtsettlement.
(Definition of liability from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of liability?
Add Cambridge dictionaries to your browser to your website

“liability” in British English

“liability” in Business English

Word of the Day

float

a large vehicle with a flat surface that is decorated and used in festivals

Word of the Day

PLEASE DON’T SHOUT!
PLEASE DON’T SHOUT!
by Colin McIntosh,
February 09, 2016
New words are entering the language all the time. A few of these are completely new and original coinages, but the vast majority are based on the existing stock of words in some way, for example by using affixes (prefixes and suffixes). These can have the effect of changing the meaning of the

Read More 

farecasting noun
farecasting noun
February 08, 2016
predicting the optimum date to buy a plane ticket, especially on a website or using an app A handful of new and updated websites and apps are trying to perfect the art of what’s known as farecasting – predicting the best date to buy a ticket.

Read More