what are examples of liability
http://accountingaide.com/examples/liabilities.htm
Liability refers to legal responsibility for one's actions or debts. Here are some examples of liability:
1. Personal Injury Liability: If someone gets injured on your property due to your negligence, you may be held liable for their medical expenses and other damages.
2. Product Liability: If a product you manufacture or sell causes harm or injury to a consumer, you may be held liable for any damages or injuries resulting from the product.
3. Professional Liability: Professionals like doctors, lawyers, or accountants can be held liable for errors or negligence in their work that causes harm or financial loss to their clients.
4. Employer Liability: Employers can be held liable for accidents or injuries that occur at the workplace and are caused by their negligence or failure to provide a safe working environment.
5. Premises Liability: Landowners or occupiers can be held liable for accidents or injuries that occur on their property due to hazardous conditions or lack of maintenance.
It is important to note that liability can vary depending on jurisdiction and the specific circumstances of each case. If you need further information about liability in a specific context, I would recommend consulting a legal professional or researching the laws applicable in your jurisdiction.