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| li·a·bil·i·ty [ l ə bíllətee ] |
noun (plural li·a·bil·i·ties) |
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| Definition: |
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1. obligation under law: legal responsibility for something, especially costs or damages
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2. debt: something for which somebody is responsible, especially a debt
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3. disadvantage: something that holds somebody back or causes trouble
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4. somebody who is burden: somebody who prevents a successful outcome or causes social embarrassment
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5. likelihood of something: likelihood or probability of something happening
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plural noun li·a·bil·i·ties |
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| Definition: |
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money owed: all debts and other financial obligations that appear on a balance sheet
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