different between payable vs liability

English

Etymology

pay +? -able

Pronunciation

• IPA^(key): /?pe??bl?/
• Hyphenation: pay?able

Adjective

payable (comparative more payable, superlative most payable)

1. Due to be paid.

   Is value-added tax payable on planning application fees?

2. Able to be paid.
3. Of a mine etc.: capable of yielding profit; profitable.

Translations

Noun

payable (countable and uncountable, plural payables)

1. (in the plural) Debts owed by a business; liabilities.
2. (sometimes postpositive) A thing that may be paid.

Related terms

• payability
• payably

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