liability vs payable

liability and payable both are nouns.

Word	Noun	Adjective	Verb	Adverb
liability	Yes	No	No	No
payable	Yes	Yes	No	No

As nouns, payable is a hyponym of liability; that is, payable is a word with a more specific, narrower meaning than liability:

liability: an obligation to pay money to another party
payable: a liability account showing how much is owed for goods and services purchased on credit

Other hyponyms of liability include limited liability, debt, arrears, account payable, scot and lot.

liability (noun)	payable (noun)
the quality of being something that holds you back	a liability account showing how much is owed for goods and services purchased on credit
an obligation to pay money to another party
the state of being legally obliged and responsible

liability (adjective)	payable (adjective)
	subject to or requiring payment especially as specified