liability
B1CEFR level
35/100Rarity: fairly common
TechnicalRegister
Law noun
Legal responsibility for one's acts or omissions that requires the wrongdoer to compensate the injured party.
The insurer accepted liability but disputed the amount of damages claimed.
Business noun
A financial obligation that a company owes to another party, such as a loan, tax bill or supplier balance.
The pension deficit is a long-term liability that weighs heavily on the balance sheet.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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