liabilˈity noun

1. The state of being liable
2. That for which one is liable, a debt, responsibility, etc
3. Someone or something that is a problem or that causes a problem

employers' liability

Responsibility of employers to their servants for the negligence of those to whom they have delegated their authority

limited liability

A principle of modern statute law which limits the responsibilities of shareholders in a partnership, joint-stock company, etc by the extent of their personal interest therein

public liability

Responsibility of a business for injury to members of the public through negligence