liability

The duty to accept responsibility for something, especially damage, and pay any resulting costs.

• The driver admitted liability.
• Our insurance covers liability for accidental damage.
• The court will decide whether the company has any liability.

How to use it: liability for something (The hotel accepted liability for the damage.)

Similar words: responsibility, accountability

Common phrases: liability for something, legal liability, accept liability

An amount of money that a person or business owes.

• The loan is a major liability.
• Our total tax liability was lower this year.
• The company must pay its liabilities before closing.

Similar words: debt, financial obligation

Opposites: asset

Common phrases: tax liability, financial liability, liability of something, current liability

A person or thing that causes problems or makes success harder.

• His temper is a liability.
• Poor spelling became a liability in her new job.
• The unreliable goalkeeper was more of a liability than an asset.

How to use it: a liability to someone/something (His careless driving is a liability to the team.)

Similar words: disadvantage, handicap, burden

Opposites: asset

Common phrases: be a liability, become a liability, political liability