Meaning of LIABILITY in English

/ ˌlaɪəˈbɪləti; NAmE / noun ( pl. -ies )


[ U ] liability (for sth) | liability (to do sth) the state of being legally responsible for sth :

The company cannot accept liability for any damage caused by natural disasters.


[ C , usually sing. ] ( informal ) a person or thing that causes you a lot of problems :

Since his injury, Jones has become more of a liability than an asset to the team.


[ C , usually pl. ] the amount of money that a person or company owes :

The company is reported to have liabilities of nearly $90 000.

—compare asset

Oxford Advanced Learner's English Dictionary.      Оксфордский английский словарь для изучающик язык на продвинутом уровне.