A liquid crystal device includes a substrate for holding a liquid crystal. The substrate includes switching elements, a first insulating layer which overlies the switching elements and which has contact holes located at positions corresponding to the switching elements, first transparent electrodes which overlie the first insulating layer and which are electrically connected to the switching elements through the contact holes, a second insulating layer overlying the first transparent electrodes, and second transparent electrodes which overlie the second insulating layer and which each have a plurality of slits for generating electric fields between the first and second transparent electrodes, the second transparent electrodes not overlapping the contact holes in plan view.