different between liability vs guarantee

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

Etymology

From Old French guarantie (perhaps via a later Spanish garante), from the verb guarantir (“to protect, assure, vouch for”), ultimately from Old Frankish *warjand, *warand (“a warrant”), or from guaranty. Doublet of guaranty and warranty.

Pronunciation

• (UK) IPA^(key): /??æ??n?ti?/

• (US) IPA^(key): /??????n?ti?/

Noun

guarantee (plural guarantees)

1. Anything that assures a certain outcome.

2. A legal assurance of something, e.g. a security for the fulfillment of an obligation.
3. More specifically, a written declaration that a certain product will be fit for a purpose and work correctly; a warranty

4. The person to whom a guarantee is made.
5. (colloquial) A person who gives such a guarantee; a guarantor.

   • But God who is the great Guarantee for the Peace , Order , and good behaviour of Mankind

Translations

Verb

guarantee (third-person singular simple present guarantees, present participle guaranteeing, simple past and past participle guaranteed)

1. To give an assurance that something will be done right.
2. To assume or take responsibility for a debt or other obligation.
3. To make something certain.

   The long sunny days guarantee a good crop.

Synonyms

• assure
• warrant

Translations

Related terms

• guaranty
• guarantor