liability

Definition

An obligation, debt or responsibility owed to someone.

Etymology

From liable + -ity.

Example Sentences

• ""I was to say that Maw and Meggins disclaim all responsibility," continued the other. "They admit no liability at all, but in consideration of your son's services they wish to present you with a certain sum as compensation.""
• "Those products – known as liability-driven investing, or LDIs – help offset liabilities and risks on pension funds’ books."
• "Asked if at some point Huma becomes a liability to Hillary, the long-term Clinton insider replies, “It’s like anything else. I don’t think so, but you know I don’t have any idea. Hillary is very loyal, but she’s obviously pragmatic.”"