liability

Legal responsibility, either civil or criminal. The condition of being bound in law and justice to pay an indebtedness or discharge some obligation. Feil v Coeur D'Alene, 23 Idaho 32, 129 P 643. The state or condition of a person after he has breached his contract or violated any obligation resting upon him. Lattin v Gillette, 95 Cal 317, 30 P 545. A word of different meanings, the pertinent one to be gathered from the context in which it appears, construed in the light of surrounding circumstances. Evans v Kroh (Ky) 284 SW2d 329, 58 ALR2d 1446. Sometimes synonymous with "debt." Anno: 58 ALR2d 1453. Within the meaning of a statute of limitations:–under one view, a contract obligation; under another view, responsibility, embracing tort liability as well as contract liability. 34 Am J1st Lim Ac § 94. As the word appears in a limitation on the creation of debt or liability of a state in excess of a prescribed amount:–a term having special reference to the warrant and legislative authority on which a state contract must rest, and on which alone a public debt must find its sanction in order to obligate the state. 49 Am J1st States § 66.

Ballentine's law dictionary. . 1998.

Synonyms:

Look at other dictionaries:

  • liability — li·a·bil·i·ty /ˌlī ə bi lə tē/ n pl ties 1: the quality or state of being liable 2: something for which one is liable: as a: a financial obligation: debt tax liability the bonds …   Law dictionary

  • LIABILITY — (Torts). Every person of full mental capacity, male or female (BK 15a), when causing injury to another person, is liable to the injured party for any damage which his negligent conduct causes the latter to suffer (see torts ), even a husband to… …   Encyclopedia of Judaism

  • Liability — Li a*bil i*ty (l[imac] [.a]*b[i^]l [i^]*t[y^]), n.; pl. {Liabilities} ( t[i^]z). [1913 Webster] 1. The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law. [1913 Webster] 2. That which one is under …   The Collaborative International Dictionary of English

  • liability — [n1] answerability, responsibility accountability, accountableness, amenability, amenableness, arrearage, blame, burden, compulsion, culpability, debt, duty, indebtedness, obligation, onus, owing, subjection, susceptibility; concept 645 Ant.… …   New thesaurus

  • liability — liability. См. подверженность. (Источник: «Англо русский толковый словарь генетических терминов». Арефьев В.А., Лисовенко Л.А., Москва: Изд во ВНИРО, 1995 г.) …   Молекулярная биология и генетика. Толковый словарь.

  • liability — Any legal obligation for which a person is responsible. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • liability — 1790, originally a term in law; condition of being legally liable; see LIABLE (Cf. liable) + ITY (Cf. ity). General sense is from 1809; meaning thing for which one is liable is first attested 1842. Related: Liabilities …   Etymology dictionary

  • Liability —   Liability is usually, a legal obligation to pay a definite or reasonably certain amount at a definite or reasonably certain time in return for a current benefit. Some of the criteria are not met by items classified as liabilities where there… …   International financial encyclopaedia

  • liability — /ingl. ˌlaɪəˈbɪlɪti/ s. f. inv. passività, passivo …   Sinonimi e Contrari. Terza edizione

  • liability — *debt, indebtedness, obligation, debit, arrear Antonyms: asset (or plural assets) …   New Dictionary of Synonyms

  • liability — ► NOUN (pl. liabilities) 1) the state of being liable. 2) a thing for which someone is liable, especially a financial obligation. 3) a person or thing likely to cause one embarrassment or put one at a disadvantage …   English terms dictionary

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