An obligation, debt or responsibility owed to someone.

(Australia, business, law) A form of limited liability that may be used by mining companies, under which the shareholders may pay a company debt by surrendering shares in lieu of money.

plural of liability

(finance) An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments. / (accounting) The right side of a balance sheet.

Any insurance against a potential loss due to the insured's liability for injury or damage to others.

(finance) The liability of an owner or a partner of a company for no more capital than they have invested.

(law) Of a business entity, having liability for legal claims that is limited to the assets of the entity itself, and which therefore does not reach the assets of the individual owners/investors of the company.

(law) A legal doctrine and form of secondary liability under which individual entities can be held jointly liable for some action on the basis of being part of a shared enterprise.

(law) The legal responsibility arising when a party materially contributes to, facilitates, induces or is otherwise responsible for directly infringing acts carried out by another party.

(law) The legal responsibility of the superior for the acts of their subordinate.