Definition of "liability"

liability

/laɪəˈbɪlɪti/

noun
countable and uncountable, plural liabilities
1. An obligation, debt or responsibility owed to someone.
  Quotations
  "I was to say that Maw and Meggins disclaim all responsibility," continued the other. "They admit no liability at all, but in consideration of your son's services they wish to present you with a certain sum as compensation."
  1901, W. W. Jacobs, The Monkey's Paw
  1. (accounting) Any item recorded on the right-hand side of a balance sheet.
2. A handicap that holds something back, a drawback, someone or something that is a burden to whoever is required to take care of them; an individual or action that exposes others to greater risk.
  Quotations
  Asked if at some point Huma becomes a liability to Hillary, the long-term Clinton insider replies, “It’s like anything else. I don’t think so, but you know I don’t have any idea. Hillary is very loyal, but she’s obviously pragmatic.”
  2016 January 31, “Is Huma Abedin Hillary Clinton’s Secret Weapon or Her Next Big Problem?”, in Vanity Fair‎
  1. (informal, mildly derogatory) A person on a team that is more of a hindrance than a help.
3. The likelihood of something happening.
4. The condition of being susceptible to something.