liability
US /ˌlaɪ.əˈbɪl.ə.t̬i/
UK /ˌlaɪ.əˈbɪl.ə.t̬i/
1.
the state of being responsible for something, especially by law
:
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The company accepted full liability for the accident.
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The new law limits the liability of property owners.
2.
a person or thing whose presence or behavior is likely to cause embarrassment or put one at a disadvantage
:
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His inexperience makes him a liability to the team.
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The old building is a financial liability due to high maintenance costs.
3.
(usually in the plural) a thing for which someone is responsible, especially a debt or financial obligation
:
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The company's balance sheet shows its assets and liabilities.
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They have significant financial liabilities from their previous business.