A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Michael Logan is an experienced writer, producer, and editorial leader. As a journalist, he ...

As a business professional, you’re responsible for the knowledge, expertise and services you provide to clients. As a result, clients can take legal action against you and your company when they ...