FindLaw Legal Dictionary
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1 : the fact or condition of being exposed
: the possibility of loss caused by an outside source used in insurance
2 : the act or an instance of exposing
3 : something that exposes someone or something
: something (as a condition, situation, or action) that creates a risk of financial loss esp. for which one may be insured [two forms of insurance are needed to cover the fully "R. I. Mehr"]
: the extent to which one is at risk
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.