What does it mean for a party to be 'liable' in a legal sense?

Being 'liable' in a legal context refers to a party's responsibility for their actions or omissions which may result in legal consequences. When a party is deemed liable, it indicates that they can be held accountable for damages caused by their conduct, whether intentional or negligent. This term underscores the relationship between duty and breach; when a party fails to meet a legal obligation or standard of care, they may face liability, which could lead to compensatory damages awarded to the aggrieved party.

The other options represent concepts that do not align with the definition of liability. For instance, being exempt from responsibility indicates a lack of accountability rather than acknowledgment of it. Having no legal obligations implies freedom from any duties, directly contradicting the notion of liability. Seeking damages in a lawsuit pertains to the actions taken by a party affected by another's liability and does not define what it means to be liable. Thus, understanding liability is crucial for grasping accountability and the implications of legal actions.