Liability October 22, 2014 « Back to Glossary IndexA liability is a legal obligation; being responsible for something, especially in relation to the law. Related Articles: 5 Ways to Gauge the Reliability of a Used CarIndependent Car Dealerships: Why Little Dealerships Doesn’t Always Mean Big SavingsIs Your Car Inflating Your Car Insurance Premiums?Credit vs. Debit: Which One Should You Use?How Americans are Spending their 2015 Tax Refund [Infographic]Glossary: AdjusterGlossary: Property Damage Liability Glossary: Liability Coverage