Liability: meaning, definitions and examples
⚖️
liability
[ ˌlaɪəˈbɪləti ]
legal term
The state of being responsible for something, especially by law. Liability can refer to financial obligations, legal responsibilities, or debts that must be paid.
Synonyms
accountability, obligation, responsibility
Examples of usage
- Business owners have a liability to ensure the safety of their customers.
- If you are found liable for damages, you may have to pay compensation.
- Liability insurance can protect individuals and businesses from potential legal claims.
- The company's liability exceeded its assets.
- An accountant can help you understand your financial liabilities.
Translations
Translations of the word "liability" in other languages:
🇵🇹 responsabilidade
🇮🇳 जिम्मेदारी
🇩🇪 Verantwortung
🇮🇩 tanggung jawab
🇺🇦 відповідальність
🇵🇱 odpowiedzialność
🇯🇵 責任 (せきにん)
🇫🇷 responsabilité
🇪🇸 responsabilidad
🇹🇷 sorumluluk
🇰🇷 책임 (chaegim)
🇸🇦 مسؤولية
🇨🇿 odpovědnost
🇸🇰 zodpovednosť
🇨🇳 责任 (zérèn)
🇸🇮 odgovornost
🇮🇸 ábyrgð
🇰🇿 жауапкершілік
🇬🇪 პასუხისმგებლობა
🇦🇿 məsuliyyət
🇲🇽 responsabilidad
Word origin
The word 'liability' originated from the Middle English word 'liablete,' coming from the Anglo-French 'liable,' meaning 'answerable.' In legal contexts, liability refers to the state of being legally responsible for something, often involving financial obligations or debts. The term has evolved to be widely used in business, insurance, and legal settings to denote legal responsibilities and potential risks.