I don't know about liability but as far as box versus bag: Box will protect the contents better. They will stack better. Bags are usually lighter and take up less room (because the offer little protection for the contents). For the most part boxes are also easier to organize, work out of, inventory and restocking easier.
There are some bags that will allow you to organize as well as a box but they are usually specific to whatever you are using them for and are probably not much less than buying the box.
01 TJ, 34 Super Swaper 34x10.5 bias, Winch, locked, belly up, some armor, 4.0, 5spd