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Noun: liabilities  `lI-u'bi-lu-teez
  1. Anything that is owed to someone else
Noun: liability  `lI-u'bi-li-tee
  1. The state of being legally obliged and responsible
     
  2. An obligation to pay money to another party
    - indebtedness, financial obligation
     
  3. The quality of being something that holds you back

See also: liable

Type of: bad, badness, obligation, possession, susceptibility, susceptibleness

Antonym: asset

Encyclopedia: Liabilities

Liability

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