Is the best definition of pecuniary liability?

Pecuniary liability refers to the financial responsibility or obligation that a person or entity has to pay for damages, losses, or debts. It typically arises in legal contexts, where a party may be held liable for monetary compensation due to their actions or negligence. This type of liability can encompass various situations, including contracts, torts, and statutory obligations. Ultimately, pecuniary liability focuses on the monetary aspects rather than non-financial penalties.