Liability

'''Liability''', ''n.'' 
 1. The quality or state of being legally obligated or accountable; legal responsibility to another or to society, enforceable by civil remedy or criminal punishment. Cf. FAULT.
 2. (''often pl.'') A financial or pecuniary obligation; DEBT.
(''Black's Law Dictionary'' 8th ed., © 2004 West Publishing)
''see also'' [[Products Liability]]