liability noun

1 responsibility

ADJ. full | legal

VERB + LIABILITY have They have no legal liability for damage to customers' possessions. | accept, acknowledge, admit, assume | deny

PREP. ~ for They have denied liability for the accident.

2 liabilities: money owed

ADJ. substantial | financial, tax an assessment of the company's financial liabilities

VERB + LIABILITY have | take on, take over He wants to know the precise amount of the liabilities he is taking over. | cover, discharge, meet There is enough money to cover existing liabilities. | reduce

PREP. ~ to The company has liabilities to its employees.