The Collaborative International Dictionary of English v.0.48:

Liability \Li`a*bil"i*ty\ (l[imac]`[.a]*b[i^]l"[i^]*t[y^]), n.;
   pl. Liabilities (-t[i^]z).
   [1913 Webster]
   1. The state of being liable; as, the liability of an
      insurer; liability to accidents; liability to the law.
      [1913 Webster]

   2. That which one is under obligation to pay, or for which
      one is liable. Specifically, in the pl., the sum of one's
      pecuniary obligations; -- opposed to assets.
      [1913 Webster]

   Limited liability. See Limited company, under Limited.
      [1913 Webster]

Moby Thesaurus II by Grady Ward, 1.0:

126 Moby Thesaurus words for "liability":
   a thing for, accountability, accountableness, accounts payable,
   accounts receivable, affinity, amenability, amount due,
   answerability, answerableness, aptitude, aptness, arrearage,
   arrears, bad debts, barrier, bent, bias, bill, bills, borrowing,
   burden, cast, chance, charges, chits, conatus, conduciveness,
   damage, debit, debt, dedication to duty, defenselessness, delight,
   detriment, devotion to duty, diathesis, disadvantage, disposition,
   drawback, due, dues, duteousness, dutifulness, eagerness,
   encumbrance, expectation, exposure, fair expectation,
   favorable prospect, feeling for, financial commitment,
   floating debt, funded debt, good chance, handicap, harm,
   helplessness, hindrance, hitch, hurt, impairment, impediment,
   inclination, incumbency, indebtedness, indebtment, injury, leaning,
   likelihood, likeliness, liking, loss, loss of ground, maturity,
   mischief, nakedness, national debt, nonimmunity, obligation,
   obstacle, obstruction, odds, onus, openness, outlook,
   outstanding debt, penchant, pledge, predilection, predisposition,
   prejudice, presumption, presumptive evidence, probabilism,
   probability, proclivity, proneness, propensity, prospect,
   public debt, readiness, reasonable ground, reasonable hope,
   responsibility, responsibleness, score, sense of duty,
   sense of obligation, sensitivity to, snag, soft spot,
   step backward, susceptibility, tendency, tropism, turn, twist,
   uncollectibles, unfulfilled pledge, verisimilitude, vulnerability,
   warp, weakness, well-grounded hope, willingness