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liabilities
noun
-
liability
,
liabilities
the
amounts
of
money
a
person
or
company
owes
;
debts
and
financial
obligations
.
β’
On
the
balance
sheet
,
the
firm's
current
liabilities
include
unpaid
wages
and
taxes
.
On
the
balance
sheet
,
the
firm's
current
liabilities
include
unpaid
wages
and
taxes
.
β’
High
long-term
liabilities
made
investors
nervous
about
the
merger
.
High
long-term
liabilities
made
investors
nervous
about
the
merger
.
Extension
of
legal
sense
to
financial
bookkeeping
in
the
19th
century
.
liability
noun
-
liability
,
liabilities
something
or
someone
that
causes
trouble
,
difficulty
,
or
embarrassment
.
β’
His
fear
of
public
speaking
proved
a
serious
liability
in
the
campaign
.
His
fear
of
public
speaking
proved
a
serious
liability
in
the
campaign
.
β’
In
harsh
weather
,
an
unreliable
engine
is
a
major
liability
.
In
harsh
weather
,
an
unreliable
engine
is
a
major
liability
.
Metaphoric
use
of
the
legal
term
dating
from
the
18th
century
.
noun
-
liability
,
liabilities
legal
responsibility
for
something
,
especially
for
paying
money
if
things
go
wrong
.
β’
The
driver
admitted
liability
for
the
accident
.
The
driver
admitted
liability
for
the
accident
.
β’
If
the
product
is
faulty
,
the
manufacturer
may
face
liability
in
court
.
If
the
product
is
faulty
,
the
manufacturer
may
face
liability
in
court
.
From
late
Middle
English
,
from
Anglo-French
,
from
liable
+β
βity
.