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liabilitiesmore about liabilities


  1  definition  found 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
  Liability  \Li`a*bil"i*ty\  (l[imac]`[.a]*b[i^]l"[i^]*t[y^]),  n.; 
  pl  {Liabilities}  (-t[i^]z). 
  1.  The  state  of  being  liable;  as  the  liability  of  an 
  insurer;  liability  to  accidents;  liability  to  the  law. 
  2.  That  which  one  is  under  obligation  to  pay  or  for  which 
  one  is  liable.  Specifically,  in  the  pl.,  the  sum  of  one's 
  pecuniary  obligations;  --  opposed  to  {assets}. 
  {Limited  liability}.  See  {Limited  company},  under  {Limited}. 

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