Liability may refer to:
Law
*
Legal liability
In law, liable means "responsible or answerable in law; legally obligated". Legal liability concerns both civil law and criminal law and can arise from various areas of law, such as contracts, torts, taxes, or fines given by government agenc ...
, in both civil and criminal law
**
Public liability Public liability is part of the law of tort which focuses on civil wrongs. An applicant (the injured party) usually sues the respondent (the owner or occupier) under common law based on negligence and/or damages. Claims are usually successful when ...
, part of the law of tort which focuses on civil wrongs
**
Product liability
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. Although the word "product" has b ...
, 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
Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advice-, consulting, and ser ...
Finance
*
Liability (financial accounting)
In financial accounting, a liability is defined as the future sacrifices of economic benefits that the entity is
''obliged'' to make to other entities as a result of past transactions or other ''past'' events, the settlement of which may result in ...
a current obligation of an entity arising from past transactions or events
** Accrued liabilities and
contingent liability
In accounting, contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of an uncertain future event such as the outcome of a pending lawsuit. These liabilities are not recorded in a company's accounts ...
**
Current liability
In accounting, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle of a given firm, whichever period is longer.
A more complete definition is th ...
, or short-term liabilities are obligations that will be settled by current assets or by the creation of new current liabilities
** Non-current, or
Long-term liabilities
Long-term liabilities, or non-current liabilities, are liabilities that are due beyond a year or the normal operation period of the company. The normal operation period is the amount of time it takes for a company to turn inventory into cash. On a ...
, liabilities with a future benefit over a certain period of time (e.g. longer than one year)
Arts and media
Film
* ''
The Liability'', a 2013 film
Music
*
''Liability'' (album), a 2015 album by Prof
*
"Liability" (song), a song by Lorde from the 2017 album ''Melodrama''
* "Liability", a song by Carly Pearce from the 2021 album ''
29: Written in Stone''
* "Liability", a song by Drake from the 2022 album ''
Honestly, Nevermind
''Honestly, Nevermind'' is the seventh studio album by Canadian rapper and singer Drake, which was surprise-released on June 17, 2022, through OVO Sound and Republic Records. The album includes a sole guest feature from 21 Savage, and product ...
''
* "Liability", a song by
Fufanu from the 2017 album ''Sports''
* "Liability", a song by
Raleigh Ritchie from the 2016 EP ''Mind the Gap''
* "Liability", a song by The Juliana Theory from the 2001 EP ''
Music from Another Room''
{{disambiguation