Liability
Legal responsibility for one's actions or omissions that cause harm to another person or their property.
Detailed Explanation
Liability can be based on negligence (failure to exercise reasonable care), strict liability (responsibility regardless of fault, common in product liability), or intentional conduct. Joint and several liability means multiple defendants can each be held responsible for the full amount of damages. Liability insurance protects against financial loss from lawsuits.
Related Terms
Tort
A civil wrong that causes harm to another person, giving the injured party the right to sue for damages.
Negligence
Failure to exercise reasonable care that results in harm to another person, forming the basis of most personal injury claims.
Damages
Monetary compensation awarded to an injured party in a civil lawsuit to compensate for losses suffered.