A dispenser is described for pouring liquids from a container such as a liquor bottle. It includes a discharge passage having an outlet nozzle at one end and a dual purpose valve element slideably and sealably mounted within the passage. The valve element includes a duct through it that extends between opposite sides of the passage. A movable sealing body, e.g. a ball in the duct is adapted to move under the influence of gravity to a first position for sealing the duct when the dispenser is inverted. The sealing body moves under the influence of gravity from its sealing position to an open position when the dispenser is upright allowing the valve element to slide quickly to its starting position at the end of the passage.