From Longman Dictionary of Contemporary Englishliabilityli‧a‧bil‧i‧ty /ˌlaɪəˈbɪləti/ ●○○ noun 1 [uncountable]OWE legal responsibility for something, especially for paying money that is owed, or for damage or injuryliability for Tenants have legal liability for any damage they cause.liability to your liability to capital gains taxliability to do something The court ruled there was no liability to pay any refund.2 → liabilities3 [singular]DISADVANTAGE someone or something that is likely to cause problems for someone A kid like Tom would be a liability in any classroom.liability to The outspoken minister has become a liability to the government.4 → liability to something → limited liabilityCOLLOCATIONSADJECTIVES/NOUN + liabilityfull liability (=complete responsibility)The driver of the other car accepted full liability for the accident.limited liability (=when someone is responsible for damages or debts for a limited amount of money)Limited liability encourages managers to take more risks with shareholder funds than they would otherwise.unlimited liability (=when someone is responsible for damages or debts for the full amount of money)Under the agreement, the insurance company has unlimited liability.legal liability (=responsibility for something that is covered by laws)What is the legal liability of an employer in the event of an accident at work?criminal liability (=responsiblity for injury or damage covered by criminal law)A child under the age of ten cannot face criminal liability for its acts.civil liability (=responsiblity for injury or damage covered by civil law)A company operating a ship which spills oil into the sea will face civil liability.tax liability (=a legal responsibility to pay tax)The government is planning to increase the tax liability on company cars.personal liability (=when an individual person is legally responsible)Directors can incur personal liability for errors made by their companies. verbshave liabilityThe parents of these children may have some liability.accept/admit liabilityThe company accepts no liability for any loss, inconvenience, or delay caused by a cancellation of train services.assume liability (=take the responsibility for something, which you did not have before)You would then assume the tax liability for the account.incur liability (=be in a situation in which you must take responsibility for something)The transfer of property will not incur a liability to inheritance tax.deny liability (=say you are not responsible for something)The defendants continued to deny liability for Peck's death.escape/avoid liabilityThe defendant escaped liability by proving that he had taken all possible measures to avoid the accident.liability + NOUNa liability claim (=a claim that someone is legally responsible)A liability claim was made by a consumer injured by the product.liability insurance/cover (=insurance that protects you against a liability claim)Many house and contents insurance policies have provision for liability insurance for claims of negligence against you.
Examples from the Corpus
liability• In those days, a politician's wife who did not hold traditional views could be a liability.• The product that was once so popular is now a liability to the company.• North West Anglia Health Authority admitted liability.• The moral of these cases is that journalists can not avoid liability for defamation merely by avoiding the naming of names.• Two approaches to clauses which purport to exclude liability for breach of fiduciary duty are discernible.• Fearing liability, Fresno, Calif., told volunteers to stop cleaning streets.• It also figures in the rules governing the legal liability of public authorities.• The annual tab for direct medical liability costs is about $ 7 billion, but indirect costs are much greater.• The bank realized that the dispute was becoming a serious liability in doing business• This liability would be payable even if the venture failed, and all the capital were lost.liability for• Ford did not admit any liability for the misleading advertising.liability to• Poor, working fathers have literally been made financial liabilities to their families.• Moreover, death caused by poisoning, the most pre-meditated of all murders, was exempted from liability to capital punishment.• On his death there were then no freehold estates to pass and therefore no liability to feudal dues.• Basic Rate Taxpayers will have no personal liability to Income Tax.• Such clauses have no effect on the primary liability to the third party for the death or personal injury he has suffered.• They unanimously held that on its wording it limited the sellers' liability to the cost of replacing the seed.• If your tax liability to January 31 is £100 or less, the fixed penalty will be reduced to the amount payable.• Patients could be admitted for care and treatment without any formalities and without liability to detention.From Longman Business Dictionaryliabilityli‧a‧bil‧i‧ty /ˌlaɪəˈbɪləti/ noun (plural liabilities)1[countable usually plural]ACCOUNTINGFINANCE an amount of money owed by a business to a supplier, lender etcIn its bankruptcy filing, the company listed liabilities of $363.7 million and assets of $141.3 million.The business has a liability as it owes money to the mortgage provider.2[uncountable]LAW the responsibility that a person or organization has for loss, damage, or injury caused to others, or for payment of debtsliability forThe new law would double airlines’ liability for lost luggage to $2,500.The company admitted liability for its negligence from the start.The firm has denied liability, and isn’t discussing settlement terms. → see also admission of liability, limitation of liability → civil liability → criminal liability → employer liability → joint and several liability → legal liability → limited liability → personal liability → product liability → professional liability → sequential liability → strict liability → tax liability → unlimited liability → vicarious liability 