liability (B2)

noun

Pronunciation: /ˌlaɪ.əˈbɪl.ə.ti/

Definition

A legal or financial responsibility for something, especially for debts or damages that one has to pay.

Examples

• The company's biggest liability is its outdated technology.

• He was found to have liability for the accident.

• The insurance policy covers liability for any damage caused.

How to Use liability

liability for (prepositional phrase)

Having responsibility for something, often negative. — "The driver admitted liability for the collision."

limit liability (collocation)

To reduce or restrict the extent of one's responsibility, especially financial. — "The contract included a clause to limit liability."

assume liability (collocation)

To accept responsibility for something, especially a debt or damage. — "The new company assumed the liabilities of the old one."

Synonyms of liability

Words with a similar meaning to liability:

• debt
• obligation
• responsibility
• accountability

Antonyms of liability

Words with the opposite meaning to liability:

• asset
• advantage

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