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Liability vs Loan - What's the difference?

liability | loan |

As nouns the difference between liability and loan

is that liability is the condition of being liable while loan is (banking|finance) a sum of money or other valuables or consideration that an individual, group or other legal entity borrows from another individual, group or legal entity (the latter often being a financial institution) with the condition that it be returned or repaid at a later date (sometimes with interest) or loan can be (scotland) a lonnen.

As a verb loan is

to lend (something) to (someone).

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

    loan

    English

    Etymology 1

    From (etyl) lone, lane, from (etyl) . More at (l).

    Noun

    (en noun)
  • (banking, finance) A sum of money or other valuables or consideration that an individual, group or other legal entity borrows from another individual, group or legal entity (the latter often being a financial institution) with the condition that it be returned or repaid at a later date (sometimes with interest).
  • *
    • , title=The Mirror and the Lamp , chapter=2 citation , passage=That the young Mr. Churchills liked—but they did not like him coming round of an evening and drinking weak whisky-and-water while he held forth on railway debentures and corporation loans . Mr. Barrett, however, by fawning and flattery, seemed to be able to make not only Mrs. Churchill but everyone else do what he desired.}}
  • The contract and array of legal or ethical obligations surrounding a loan.
  • The permission to borrow any item.
    • Hypernyms
    * (something that a legal entity borrows) bailment
    Hyponyms
    * (something that a legal entity borrows) mutuum
    Derived terms
    * bridge loan * caveat loan * loan shark * low-doc loan * swing loan

    Verb

    (en verb)
  • To lend (something) to (someone).
  • * 2006: — (unidentified episode, but frequently heard from her as a verb)
    • When you loan somebody something, they have the responsibility to safeguard it.
    Usage notes
    * This usage, once widespread in the UK, is now confined to the US (or perhaps parts thereof). * It is often considered preferable to use lend when the object being loaned or lent is something other than money.

    Etymology 2

    See lawn.

    Noun

    (en noun)
  • (Scotland) A lonnen.
    • (Webster 1913)

    Anagrams

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