different between liability vs acquittance

English

Etymology

From liable +? -ity.

Pronunciation

• IPA^(key): /la???b?l?ti/
• Hyphenation: li?abil?ity

Noun

liability (countable and uncountable, plural liabilities)

1. An obligation, debt or responsibility owed to someone.
   • 1901, W. W. Jacobs, The Monkey's Paw

     "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."

2. A handicap that holds something back, a drawback, someone or something that is a burden to whoever is required to take care of them; an individual or action that exposes others to greater risk.
   • 2016 January 31, "Is Huma Abedin Hillary Clinton’s Secret Weapon or Her Next Big Problem?," Vanity Fair (retrieved 21 January 2016):

     Asked if at some point Huma becomes a liability to Hillary, the long-term Clinton insider replies, “It’s like anything else. I don’t think so, but you know I don’t have any idea. Hillary is very loyal, but she’s obviously pragmatic.”

3. The likelihood of something happening.
4. The condition of being susceptible to something.

Antonyms

• asset

Derived terms

• enterprise liability
• limited liability
• limited liability company
• secondary liability
• strict liability
• vicarious liability

Translations

Anagrams

• alibility

English

Alternative forms

• acquittaunce (obsolete)

Etymology

From Anglo-Norman acquitance, Middle French aquitance, from acquiter (“to acquit”). Compare later acquittal.

Pronunciation

• IPA^(key): /??kw?t?ns/

Noun

acquittance (countable and uncountable, plural acquittances)

1. (now historical) A writing which is evidence of a discharge; a receipt in full, which bars a further demand. [from 14th c.]
2. (now rare) Payment of debt; settlement. [from 14th c.]
3. (now historical) The release from a debt, or from some obligation or duty; exemption. [from 14th c.]
4. (obsolete) The dismissal of a legal charge against someone; acquittal. [15th–19th c.]
   • 1791, Ann Radcliffe, The Romance of the Forest, Oxford 1999, p. 82:

     This was a task more difficult than that of self acquittance.

5. (now rare) The acquittal of one's duties; the carrying out of fulfilment of a job or role. [from 17th c.]

Verb

acquittance (third-person singular simple present acquittances, present participle acquittancing, simple past and past participle acquittanced)

1. (transitive, obsolete) To acquit.

References

• acquittance in Webster’s Revised Unabridged Dictionary, G. & C. Merriam, 1913.