liability

Definitions

  • WordNet 3.6
    • n liability the quality of being something that holds you back
    • n liability an obligation to pay money to another party
    • n liability the state of being legally obliged and responsible
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Webster's Revised Unabridged Dictionary
    • Liability That which one is under obligation to pay, or for which one is liable.
    • Liability The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law.
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Century Dictionary and Cyclopedia
    • n liability The state of being liable through obligation orduty; fixed or contingent responsibility; exposure to that which is or may be required: as, the liability of a principal for his agent's acts. In this sense, in law, it is sometimes used as including, and sometimes as excluding, contingent demands and unliquidated damages.
    • n liability The state of being liable incidentally or by chance; exposure to that which is possible or probable; tendency; susceptibility: as, liability to accident or contagion; a physician's liability to broken rest.
    • n liability That for which one is liable; that to which one is bound or exposed; a fixed or contingent obligation: as, to incur or assume a heavy liability (as for the payment of a debt or the performance of a service); the assets and liabilities of a bank.
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Chambers's Twentieth Century Dictionary
    • ns Liability state of being liable: that for which one is liable, an obligation, debt, &c
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Quotations

  • Howard Davies
    Howard Davies
    “Most people...find a disorientating mismatch between the long-term nature of their liabilities and the increasingly short-term nature of their assets.”
  • Dale Carnegie
    Dale%20Carnegie
    “If only the people who worry about their liabilities would think about the riches they do possess, they would stop worrying.”

Etymology

Chambers's Twentieth Century Dictionary
Fr. lier—L. ligāre, to bind.

Usage

In literature:

All that you need of my dowry to free yourself from liabilities is yours.
"His Excellency the Minister" by Jules Claretie
The thin formation was deemed objectionable for infantry, on account of its liability to be penetrated by cavalry.
"Elements of Military Art and Science" by Henry Wager Halleck
But the rest of the book is entirely free from liability to any such criticism as this.
"Matthew Arnold" by George Saintsbury
Hampered by no atmosphere, he was free from all liability to optical illusion.
"All Around the Moon" by Jules Verne
In 1894 the House of Bishops voted solidly against the Employers' Liability Law.
"The Profits of Religion, Fifth Edition" by Upton Sinclair
The extreme liability to ill-treatment or indulgence, according to the mood and disposition of the officers in charge.
"Elizabeth Fry" by Mrs. E. R. Pitman
But the asset side of our "mossback's" yearly balance sheet always made the liability side ashamed of itself.
"Skookum Chuck Fables" by Skookum Chuck (pseud for R.D. Cumming)
It exempted railroads from liability for fire and carried its own insurance.
"Random Reminiscences of Men and Events" by John D. Rockefeller
Corporate liability, 23, 32.
"The Oldest Code of Laws in the World The code of laws promulgated by Hammurabi, King of Babylon B.C. 2285-2242" by Hammurabi, King of Babylon
But whenever we desire to be definite, or when there is the least liability to mistake the object, it is invariably expressed.
"Lectures on Language" by William S. Balch
I'll meet your liabilities with cash.
"The Three Brides, Love in a Cottage, and Other Tales" by Francis A. Durivage
Save us from his liability to plunge us all in general blood!
"The Golden Censer" by John McGovern
In the case of the internal feelings this liability shows itself in a still more striking form.
"Illusions" by James Sully
No tentative statement of assets and liability had been announced by the court's representative.
"The Substitute Prisoner" by Max Marcin
I dropped questions and adopted the direct statement as a method of procedure in which there was less personal liability.
"Sergeant York And His People" by Sam Cowan
Liabilities, 1st Jan., 1860, 42,580 43.
"The Continental Monthly, Vol III, Issue VI, June, 1863" by Various
To him, women are a liability, not an asset.
"David Lannarck, Midget" by George S. Harney
The liability of a principal for the acts of a general agent are very different from his liability for the acts of a special agent.
"Up To Date Business" by Various
In the course of a few days, I heard from Mr. Axminster, that his liability of one hundred pounds had been duly honored.
"The International Monthly Magazine, Volume 5, No. 1, January, 1852" by Various
The liability to incursions by the apes seemed to be the only source of anxiety on the part of Bowata and his people.
"The Strange Adventures of Eric Blackburn" by Harry Collingwood
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In news:

How can state force Alaskans to buy liability insurance .
Liability Insurance Isn't Just For The Professionals.
The Aeronautical Repair Station's efforts to create a risk-retention group to provide commercial liability insurance for its members is closer to fruition.
Liability Coverage under Your Personal Auto Insurance Policy.
Potential liability claims are probably a big concern for you as a car owner.
Property, Casualty and Liability Insurance .
How Much Personal Liability Insurance Do You Need.
Thomas J Unik offers liquor liability insurance and Ohio Lottery bonding.
It also offers packaged policies, including building, contents, general liability, assault and battery and more.
New liability insurance requirements in the EU.
New County property, liability insurance approved.
Read on to find out about the other advantages associated with limited liability companies.
Rule 1.8(g Prospective Limitation of Liability).
Now, they're all limited-liability corporations.
He concentrates his practice in governmental tort cases, civil trial litigation , medical malpractice and drug product liability defense matters.
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In science:

What is, probably, more important, the buyer and the seller may have very different asset-liability and financing constraints, resulting in diversity of the profit and loss functions L.
Price as a matter of choice and nonstochastic randomness
Any opinion, findings and conclusions or recommendations expressed in this material are those of the author and therefore the NRF does not accept any liability in regard thereto.
Martin-Lof randomness, invariant measures and countable homogeneous structurs
For this reason, it is recommended for both safety and liability concerns to coordinate laser activities with an appropriate agency (e.g. with U.S.
Bringing the Visible Universe into Focus with Robo-AO
However, that approach incurred a liability as regards communication with physicists.
Nonlocality, Counterfactual, and Consistent Histories
However, data ownership and stewardship are complex and highly charged issues with numerous social, political, liability, and security implications.
The Workshop on Internet Topology (WIT) Report
The values of a cash CLO’s assets and liabilities can diverge significantly for an extended time even though they eventually have to converge1 .
A Top-down Model for Cash CLO
Even though the values of cash CLO assets and liabilities do not necessarily move together as discussed in section 2, the underlying loan prices is a key piece of information for comparing the relative values between different cash CLO deals since it reflects the expected loan default rates.
A Top-down Model for Cash CLO
However, a top-down approach is ideal for cash CLOs since there is no strong arbitrage relationship between the CLO assets and liabilities in the cash market, and the cash CLO tranche prices do not necessarily move consistently with individual underlying loans.
A Top-down Model for Cash CLO
Using the average underlying collateral loan price (last column of Figure 3) computed by Intex, we can also obtain the tranche implied average collateral loan price, which is the average collateral loan price that makes the total asset value equals the total liability value for the given cash CLO deal.
A Top-down Model for Cash CLO
DM method, nor can they be obtained from any bottom-up models because bottom-up models enforces the value equality between assets and liabilities.
A Top-down Model for Cash CLO
Perhaps C needs to insure himself against liabilities in connection with this usage.
Informal Control code logic
M accepts no liability from individual users, even if they have paid for the acquisition of a polyadic control code which M has released and sold as an implementation of certain tasks.
Informal Control code logic
These consist of 1466 general liability claims randomly chosen from late settlement lags (among the initial 1500 claims, 34 claims for which the policy limit was reached were ignored).
Large-sample tests of extreme-value dependence for multivariate copulas
Modelling the motion of this curve is of paramount importance for many financial applications : pricing of interest rate derivatives, such as ‘caps’ that limit the rate of loans that individuals take on their housing, interest swaps, risk management (asset liability management), etc.
"Stiff" Field Theory of Interest Rates and Psychological Future Time
IR maps can be used for the visualisation and patterns perception purposes, to develop and to explore economical hypotheses, to produce dynamic asses-liability simulations and for the financial risk assessments.
Interest rates mapping
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