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liability |
Also found in: Legal, Financial, Encyclopedia, Wikipedia, Hutchinson | 0.02 sec. |
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liability [līəbil′itē] Etymology: L, ligare, to bind 1 something one is obligated to do or an obligation required to be fulfilled by law, usually financial in nature. 2 the amount of money required to fulfill a financial obligation. liability (lī n the state of being bound by law or justice to do something or to make good something; legal responsibility. liability financial or legal responsibility. liability Malpractice All character of obligation, amenability, and responsibility for an act before the law. See Corporate liability, Current liability, Limits of liability, Malpractice Product liability, Professional liability, Strict
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``Employment cases represent the largest risk factor -- as far as verdicts or payouts,'' said Gary Geuss, chief assistant city attorney in the Civil Liability Management Group. ATCA provides jurisdiction for civil liability only. People who use the services of unlicensed contractors expose themselves to civil liability under their homeowners' policies if contractors or their employees are injured on the job. |
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