liability definition

Glossary: liability Liability is a financial obligation, debt, claim or potential loss. Usually debt on terms of less than five years is called short-term liabilities, and debt for longer than five years in long-term liabilities. Click here for more liability / Dictionary of Terms Enter your email address below for liability and Business Planning information. Definition: liability If you need assistance in developing a business plan, our staff of industry leading consultants can assist you in preparing a winning presentation. Contact us for a business plan quote to learn more about how we define liability and how we can help you complete your business plan today. Additional terms to learn about liability definitions Glossary: liability business plan definition - © 2001-2003 HJ Ventures International, Inc.