Definition of Liability
Quick Meaning of Liability
Something you owe money for. A debt or obligation to pay someone.
Detailed Definition of Liability
A debt, financial obligation, or amount owed by a person or business to another party; a claim against assets in accounting.
How to Pronounce Liability
Stress pattern: oooOo (5-syllable word).
Tip: ly-uh-BIL-uh-tee. Stress the second syllable BIL. It's five syllables: ly-uh-BIL-uh-tee. The stress pattern is: weak-weak-STRONG-weak-weak.
Watch out: Learners often stress the first or last syllable. Always stress BIL: ly-uh-BIL-uh-tee.
Origin and Etymology of Liability
From 'liable' (legally responsible) + '-ity' (state or condition). 'Liable' comes from Latin 'ligare' (to bind). Applied to accounting to mean 'things that bind you to pay'.
How to Use Liability in a Sentence
Each example shows “liability” with a CEFR level so learners can pick examples that match their fluency.
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“The company's liabilities include bank loans and accounts payable.”
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“Current liabilities are due within one year.”
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“Managing liabilities is essential for maintaining financial stability.”
Synonyms and Antonyms of Liability
Common Synonyms for Liability
Smart Synonyms for Liability — When to Use Each
- financial obligation
- Formal term; emphasizes the duty to pay
- amount owed
- Simple term; clearly shows obligation to creditors
- claim against assets
- Technical accounting term; shows creditor rights
Antonyms of Liability
Common Collocations with Liability
These phrases pair with “liability” in everyday English:
- current liability
- long-term liability
- total liabilities
- account payable liability
- minimize liability
Common Mistakes When Using Liability
Even fluent speakers slip up with “liability”. Here’s how to avoid the most common errors:
- ✗ Wrong: The liability are increasing each quarter.
- ✓ Correct: The liability is increasing each quarter.
- Why: Liability (singular) takes 'is'; use 'liabilities' (plural) for 'are'.
- ✗ Wrong: Current liabilities must be paying within 12 months.
- ✓ Correct: Current liabilities must be paid within 12 months.
- Why: Use passive 'be paid', not 'be paying'.
- ✗ Wrong: We need reducing our total liabilities significantly.
- ✓ Correct: We need to reduce our total liabilities significantly.
- Why: After 'need', use 'to + verb', not 'verb-ing'.
Other Forms of Liability
- Noun: liability
Frequently Asked Questions About Liability
What is the meaning of "Liability"?
Something you owe money for. A debt or obligation to pay someone.
How do you pronounce "Liability"?
The IPA is /ˌlaɪəˈbɪləti/. ly-uh-BIL-uh-tee. Stress the second syllable BIL. It's five syllables: ly-uh-BIL-uh-tee. The stress pattern is: weak-weak-STRONG-weak-weak.
What part of speech is "Liability"?
"Liability" is a noun at C1 level (Common European Framework).
What are synonyms for "Liability"?
Common synonyms include debt, obligation, claim.
How do you use "Liability" in a sentence?
For example: "The company's liabilities include bank loans and accounts payable."