Liability

n. financial obligation; debt; responsibility, obligation; disadvantage, handicap; likelihood

For "libel", see libel (disambiguation). In the most general sense, a liability is anything that is a hindrance, or puts individuals at a disadvantage.
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Noun
1. the state of being legally obliged and responsible
(hypernym) susceptibility, susceptibleness
(hyponym) taxability
2. an obligation to pay money to another party
(synonym) indebtedness, financial obligation
(hypernym) obligation
(hyponym) limited liability
3. the quality of being something that holds you back
(antonym) asset, plus
(hypernym) bad, badness
(hyponym) weak point

(n.)
the sum of one's pecuniary obligations; -- opposed to assets.
  

(n.)
The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law.
  

(n.)
That which one is under obligation to pay, or for which one is liable.
  

A financial obligation, or the cash outlay that must be made at a specific time to satisfy the contractual terms of such an obligation.