Liability
Liability (lī`ȧ*bil"i*ty) , noun
1.
The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law.
2.
That which one is under obligation to pay, or for which one is liable.
the sum of one's pecuniary obligations; -- opposed to assets.
Collocations (1)
Limited liability , See Limited company, under Limited.