Liability (noun)

1. A legal obligation or responsibility, especially in financial terms.
2. A person or thing whose presence or behavior is likely to cause problems or difficulties.

Origin:

Early 17th century: from french responsabilité, from responsable (see responsible).

Examples:

1. The company has a liability to pay the employees their due wages.
2. The owner is responsible for the liabilities incurred by the business.
3. The new policy will reduce the company's liabilities and increase its profits.
4. The politician's past actions were a liability during the election campaign.
5. The accident was caused by the driver's liability to follow the traffic rules.