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Definitions of liability:

noun:   the quality of being something that holds you back
noun:   the state of being legally obliged and responsible
noun:   an obligation to pay money to another party

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Alternative Terms
active expire managed-liabilities debt asset mortgage general-partner partnership arrearage arrears indebtedness obligation pay-owe exposure openness susceptibility susceptibleness vulnerability vulnerableness protection-exposure due tort contract fiduciary negligence malpractice joint libel-disambiguation financial-accounting accounting-equation ownership-equity balance-sheet international-accounting-standards-board current-liability wage tax accounts-payable adjusting-entries long-term-liabilities bond-wordnet leasing pension warranty provision-accounting law property reputation civil-law-common-law criminal-law strict-liability english-law theft-act978 damages vicarious-liability agency-law respondeat-superior commercial-law limited-liability bankruptcy business product-liability debits-and-credits accrued-liabilities list-of-accounting-topics list-of-business-law-topics liability-insurance contingent-liability limited-partnership retained-earnings public-liability exoneration noncurrent-liability parent-liability impunity acquit umbrella-liability-insurance liability-limits liability-legal hold-harmless-agreements

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