Liability

Look up liability in Wiktionary, the free dictionary.

Liability may refer to:

Law

• Legal liability, in both civil and criminal law
  • Public liability, part of the law of tort which focuses on civil wrongs
  • Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause.
  • Professional liability for one´s professional acts, as in professional liability insurance

Finance

• Liability (financial accounting), a current obligation of an entity arising from past transactions or events
  • Accrued liabilities and contingent liability
  • Current liability, obligations that will be settled by current assets or by the creation of new current liabilities
  • Long-term liabilities, liabilities with a future benefit over a certain period of time (eg. longer than two months)

Arts and media