Liability vs Loss - What's the difference?
liability | loss |
the condition of being liable.
an obligation, debt or responsibility owed to someone.
* 1901 , , (w, The Monkey's Paw)
a handicap that holds one back.
the likelihood of something happening.
an instance of losing, such as a defeat
The result of an alteration in a function or characteristic of the body, or of its previous integrity.
the hurtful condition of having lost something or someone
(in the plural) casualties, especially physically eliminated victims of violent conflict
(financial) the sum an entity loses on balance
destruction, ruin
(engineering) electricity of kinetic power expended without doing useful work
As nouns the difference between liability and loss
is that liability is the condition of being liable while loss is an instance of losing, such as a defeat.liability
English
Noun
(wikipedia liability) (liabilities)- "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."
Antonyms
* assetDerived terms
* enterprise liability * secondary liability * vicarious liabilityloss
English
Alternative forms
* (obsolete)Noun
(es)- The match ended in their first loss of the season.
- Loss of an arm ; loss of weight ; loss of cognitive functions ; loss of appetite.
- We mourn his loss .
- The battle was won, but losses were great.
- ''The sum of expenditures and taxes minus total income is a loss , when this difference is positive.
- ''It was a terrible crash: both cars were total losses
- The inefficiency of many old-fashioned power plants exceeds 60% loss''' before the subsequent ' losses during transport over the grid