Liability
Look up liability in Wiktionary, the free dictionary.
A liability can mean something that is a hindrance or puts an individual or group at a disadvantage, or something someone is responsible for, or something that increases the chance of something occurring (i.e., it is a cause).
Liability may also refer in specific fields to:
Law
- Legal liability, the legal bound obligation to pay debts
- Public liability, part of the law of tort which focuses on civil wrongs
- Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause.
Finance
- Liability (financial accounting), a current obligation of an entity arising from past transactions or events
- Accrued liabilities and contingent liability
- Current liability
- Long-term liabilities, liabilities with a future benefit over two months
Other uses
- The Liability, 2013 film
This disambiguation page lists articles associated with the title Liability.
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