1. Debts or financial obligations owed to others
   "The company's liabilities exceeded its assets, leading to bankruptcy"

1. The state of being legally obliged and responsible
   "The company's liability for the accident was established in court"
    
2. An obligation to pay money to another party
   "He struggled to meet his liabilities after losing his job";
   - indebtedness, financial obligation
    
3. The quality of being something that holds you back
   "His tendency to procrastinate was a liability in his professional life"

Type of: bad, badness, obligation, possession, susceptibility, susceptibleness

Antonym: asset

Encyclopedia: Liabilities