Search
Liability
01
the state of being legally obliged and responsible
02
the quality of being something that holds you back
03
a commitment to provide a specific amount of money to another person or organization
Example
The membership agreement outlined the liability of members to contribute $100 annually for club maintenance.
The politician's many slips of the tongue have made him a liability for his party.
The release form indemnifies the event organizers against liability for injuries sustained during the activity.
The insurance policy indemnifies homeowners against liability for accidents that occur on their property.
Joining the investment club came with the liability of committing $1,000 to the collective fund annually.
