Definition of Liabilities

Noun: liabilities  ,lI-u'bi-lu-teez

  1. Anything that is owed to someone else
Noun: liability  ,lI-u'bi-li-tee
  1. The state of being legally obliged and responsible
     
  2. An obligation to pay money to another party
    - indebtedness, financial obligation
     
  3. The quality of being something that holds you back

See also:
li
liability