Liability Explained

Liability refers to the following:

Law

• Legal liability, in both civil and criminal law
  • Public liability, part of the law of tort which focuses on civil wrongs
  • Product liability, 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

Finance

• Liability (financial accounting) a current obligation of an entity arising from past transactions or events
  • Accrued liabilities and contingent liability
  • Current liability, 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, 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
• "Liability", a song by Drake from the 2022 album Honestly, Nevermind
• "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