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TeachMeFinance.com - explain Liability Liability The term 'Liability' as it applies to the area of energy can be defined as ' An amount payable in dollars or by future services to be rendered'. Previous 5 Terms: LFT LGT LGWV LHV LI Next 5 Terms: Liability Determination Liability Insurance liard libaniferous LIBOR About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.