What is liability?
the opportunity of the sole proprietor to keep all profits after taxes

the legal obligation to pay debts

the requirement to offer fringe benefits

the necessity to do a lot of paperwork

The answer which you are searching for is number 2) the legal obligation to pay debts.

the american colonists were happy with their vicorty, but the french were mad and the french and indians were not alies, and neither were the french and colonist. i think,

basic principles: federalism, separation of powers, checks and balances, judicial review, representative democracy, limited government, rule of law, individual rights and responsibilities, consent of the governed, majority rule, popular sovereignty, equal protection.