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Definition of Liability

Liability

  1. The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law.
  2. That which one is under obligation to pay, or for which one is liable.
  3. the sum of one's pecuniary obligations; -- opposed to assets.

Liability Quotations

Reform of the medical liability system should be considered as part of a comprehensive response to surging medical malpractice premiums that endanger Americans' access to quality medical care.
Lincoln Chafee

Markets are as old as the crossroads. But capitalism, as we know it, is only a few hundred years old, enabled by cooperative arrangements and technologies, such as the joint-stock ownership company, shared liability insurance, double-entry bookkeeping.
Howard Rheingold

I see more people taking on the cloak of accountability, more people tiring of the blame game. If we are all connected and our actions in Australia affect us in Istanbul, then we are all to blame and all to be healers. We can't blame lawyers anymore for the 'liability' vs. common sense imbalance.
Jane Siberry

For we must be one thing or the other, an asset or a liability, the sinew in your wing to help you soar, or the chain to bind you to earth.
Countee Cullen

Occasionally we have to interpret an international treaty - one, perhaps, affecting airlines and liability for injury to passengers or damage to goods. Then, of course, we have to look to the precedents of other member nations in resolving issues.
Sandra Day O'Connor
More "Liability" Quotations

Liability Translations

liability in German is Haftung, Verantwortlichkeit, Haftpflicht
liability in Norwegian is forpliktelse
liability in Swedish is ansvar
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