liability
n.-
1 legal responsibility (n.) B2 Upper Intermediate Formal Lawthe state of being legally responsible for something, such as a debt or an accident.
the state of being legally responsible for something; the condition of being bound by law or equity to make good a loss.
ExampleThe company admitted liability for the accident and paid for the repairs.
ExampleThe contract includes a clause that limits the manufacturer's liability in the event of a mechanical failure caused by improper maintenance.
UsageOften used with the verbs 'admit', 'accept', or 'limit'.
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2 financial debt (n.) B2 Upper Intermediate Technical Accountingan amount of money that a person or company owes.
a financial obligation or debt recorded on a balance sheet.
ExampleThe business has more liabilities than assets, which is a bad sign for investors.
ExampleThe auditor noted that the firm's long-term liabilities had increased significantly due to the recent acquisition of its competitor.
UsageUsually plural in a business context.
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3 a burden or risk (n.) B2 Upper Intermediate Informala person or thing that causes problems or puts you at a disadvantage.
a person or thing whose presence or behaviour is likely to cause embarrassment or misfortune.
ExampleHis constant lateness made him a liability to the rest of the team.
ExampleThe candidate's history of controversial public statements became a major liability during the final weeks of the election campaign.
Teacher's tipIn British English, this is frequently used to describe a person who is out of control or likely to cause trouble, especially when drinking.
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4 susceptibility (n.) C1 Advanced Academic Formalthe state of being likely to experience or be affected by something.
the quality or state of being susceptible to something, often something negative.
ExampleSome people have a genetic liability to certain types of diseases.
ExampleThe study explored the environmental factors that increase a child's liability to developing respiratory issues later in life.
From liable + -ity.