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Beginner's Dictionary        

li·a·bil·i·ty

liability

 
 
pronunciation:
laI bI lih ti
part of speech: noun
inflections: liabilities
definition 1: the condition of being responsible for payment under the law.
Some insurance will protect you against liability in case of a car accident.
synonyms:
obligation, responsibility
similar words:
blame, chargeability
definition 2: a thing that someone is responsible for paying, such as a debt.
His liabilities include a car loan and a student loan.
synonyms:
debt
similar words:
obligation, responsibility