liability

Meanings

• noun

  The obligation to pay or otherwise discharge a debt or duty; legal responsibility.

  - "The company's liabilities include accounts payable and outstanding loans."
  - "The defendant's liability for damages was determined in court."
  - "The insured's liability for damages under the insurance policy."

• noun

  A potential source of loss or responsibility.

  - "The car's liability in an accident is the responsibility it may have for causing damage or injury."
  - "The homeowner's liability for injuries sustained on their property."
  - "The employer's liability for workplace accidents."

---

Pronunciation

1. /laɪəˈbɪlɪti/
   
   
   
   Source: "https://commons.wikimedia.org/w/index.php?curid=1684657"

---

Antonyms

asset

---

Rhymes

Words rhyming with liability
impenity , puniness , tenacity

---

Variants

List of all variants of liability that leads to same result
liabilities , liability , limited liabilities , limited liability , limited liability partnership , strict liability

---

Etymology

origin and the way in which meanings have changed throughout history.

From Old French 'ligeage,' meaning 'attachment, obligation.'

---

Trivia

Any details, considerations, events or pieces of information regarding the word

1. The term 'liability' can also be used figuratively to describe a person's responsibility for their actions or behavior.

2. In some legal contexts, a person's liability for damages may be limited by various factors, such as statutes of limitations or caps on damages.

3. A company's liabilities are typically listed on its balance sheet.

---

Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. debt: A liability represents a financial obligation that a person or entity owes to another.

2. risk: A liability can also refer to a potential risk or hazard that may cause harm or loss.

3. obligation: A liability is an obligation that a person or entity has to fulfill, often with financial implications.

---

Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

In literature, liability is often used to describe the moral and ethical responsibilities of characters. In art, it can be represented through various themes such as guilt, responsibility, and debt.

How to Memorize "liability"

1. visualize
   

   - Imagine a scale, with assets on one side and liabilities on the other. The balance represents the financial health of an individual or entity.
   - Visualize a contract, outlining the obligations and responsibilities of each party involved.

2. associate
   

   - Associate the word 'liability' with 'responsibility,' 'obligation,' or 'debt.'
   - Think of a liability as a potential source of risk or harm.

3. mnemonics
   

   - Create a mnemonic using the word 'LIABILITY': 'L' for Liability, 'I' for Insurance, 'A' for Asset, 'I' for Income, 'A' for Asset, and 'L' for Liability.

---

Memorize "liability" using Dictozo

The best and recommended way to memorize liability is, by using Dictozo. Just save the word in Dictozo extension and let the app handle the rest. It enhances the memorization process in two ways:

1. Highlighting:

   Whenever users encounters the saved word on a webpage, Dictozo highlights it, drawing the user's attention and reinforcing memorization.
2. Periodic Reminders:

   Dictozo will send you periodic reminders to remind you the saved word, it will ask you quiz. These reminders could be in the form of notifications or emails, prompting users to recall and reinforce their knowledge.