From Longman Business Dictionary
liableli·a·ble /ˈlaɪəbəl/ adjectiveadj [not before a noun]LAW1legally responsible for paying somethingliable forThe troubled company will be liable for about $52 million in back taxes and penalties.
2likely to be legally punished or forced to do something by lawliable to somebodyThe firm admitted no wrongdoing and therefore they were not liable to anyone for the losses that had occurred.
liable for somethingThe appeals court ruled that it would hold tobacco companies liable for illnesses related to smoking.