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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

Derived forms: liabilities

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

Antonym: asset

Encyclopedia: Liability