liability

LY-uh-BIL-uh-tee

meaning in plain English

Something you owe or have to take care of, like a bill or a duty.

for example

After the accident, the driver realized the other car was his liability to pay for.

Imagine you break something that isn’t yours. You now have a liability—something you must fix or pay for to make it right. Why? Because you caused the problem, and now you’re on the hook for it.