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Liability vs Debts - What's the difference?

liability | debts |

As nouns the difference between liability and debts

is that liability is the condition of being liable while debts is .

liability

English

Noun

(wikipedia liability) (liabilities)
  • the condition of being liable.
  • an obligation, debt or responsibility owed to someone.
  • * 1901 , , (w, The Monkey's Paw)
    • "I was to say that Maw and Meggins disclaim all responsibility," continued the other. "They admit no liability at all, but in consideration of your son's services they wish to present you with a certain sum as compensation."
  • a handicap that holds one back.
  • the likelihood of something happening.

    • Antonyms

    * asset

    Derived terms

    * enterprise liability * secondary liability * vicarious liability

    debts

    English

    Noun

    (head)