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• n  the state of being legally obliged and responsible
• n  an obligation to pay money to another party
• n  the quality of being something that holds you back

• That makes liability insurance, the kind that pays off on such claims, just about as vital as oil in keeping the economy functioning.
• LIABILITY Collecting More Than the Maximum When a person buys liability insurance, the company agrees to pay dam age awards against him but only up to the amount specified in .
• Car owners buy liability coverage as protection against loss claims from someone else as a result of an accident.

• indebtedness
• financial obligation

• asset

News & Articles

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• ACE Bermuda Releases 2013 Liability Limit Benchmarks and Large Loss Profile Report
  ACE Bermuda today announced the release of its 2013 Liability Limit Benchmarks and Large Loss Profile Report. The annual publication provides illustrative snapshots of the types of large third party liability losses that have occurred over the last ten years within various industry sectors.
  June 20, 2013 - Business Wire via Yahoo! Finance
• Canada Raises Liability for Offshore Atlantic, Arctic Operators
  The Canadian government will raise the absolute liability for oil and gas companies operating in the Atlantic Basin offshore eastern Canada from $1 billion to $30 billion and for companies working on the Canadian Arctic from $40 million to $1 billion.
  June 19, 2013 - Rigzone
• Nektar Therapeutics Presents Positive Data from Human Abuse Liability Study for NKTR-181, a First-in-Class ...
  SAN DIEGO, June 19, 2013 /PRNewswire/ --  Nektar Therapeutics (Nasdaq: NKTR) today announced positive top-line results from a human abuse liability (HAL) study for NKTR-181, a first-in-class, opioid analgesic ...
  June 19, 2013 - PR Newswire via Yahoo! Finance

Quotes

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• Scott Stanzel in Clarksville Leaf Chronicle
  The legislation would permit plaintiffs' lawyers immediately to freeze Iraqi funds and would expose Iraq to "massive liability in lawsuits concerning the misdeeds of the Saddam Hussein regime," Stanzel said.
• President Bush in New York Times
  It was their technology. It was their spill cam. They are the ones that should have known right from the beginning and, either to limit their liability or because they were grossly incompetent, they delayed a full response to the magnitude of this... Edward Markey http://www.google.com/url?q=http://en.wikipedia.org/wiki/Ed_Markey&source=dictionary&usg=AFQjCNFeCMJO27rMUqStZPNpqBrGhupZmA FOXNews http://www.google.com/url?q=http://www.foxnews.com/politics/2010/06/20/congressman-releases-bp-doc-showing-potential-barrels-oil-spilling-gulf-day/&source=dictionary&usg=AFQjCNHSCXThAE1T6WbA0ERZ84dvOVLGSw Jun 20, 2010 57946 77192 liability Liability protection is critical to securing the private sector's cooperation with our intelligence efforts," Mr. Bush said.