Definition, Meaning & Synonyms
financially-liable
Adjective
/faɪˈnæn.ʃəl.i ˈlaɪ.ə.bəl/
Definition
Being legally responsible for the financial obligations or debts that one has incurred.
Examples
- If a business fails to pay its bills, it may be deemed financially liable for its debts.
- As a co-signer on a loan, you are financially liable if the primary borrower defaults.
Meaning
When a person or an organization is financially liable, they must pay their debts and can be held accountable in a court of law.
Synonyms
- financially responsible
- debt-bound
- accountable
