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1.
A person (usually female) who becomes a hassle and general embarrassment when drunk. However, they are harmless and cause more laughter/ stories/ material for blackmail than utter humiliation and upset for their minders (usually male).
She was such a liability she tried to take her clothes off.

You're a fcuking liability
by george April 21, 2005
 
2.
Someone with liabilities is incredibly good at lying. Can get any one believe anything at any time. Abilities are on par with lying greats such as George Costanza, Drake Parker, and George Bush.
liabilities- they hold society together
by MaximumOverdrive October 20, 2008
 
3.
n. (accounting) Debts.
Total liabilities equal to total assets minus total owner's equity.
by Nodie February 13, 2011
 
4.
see also: saviour
Read between the lines: It's like giving them the finger, but you've got the liability...
by natalie sthoup July 27, 2010