A liquid crystal device is formed by disposing a liquid crystal between a pair of oppositely disposed electrodes, at least one of which has a laminated structure including a first layer of ITO (indium tin oxide), a second layer of Mo (molybdenum) or its alloy, and a third layer of Al (aluminum) or its alloy, disposed in the order named. Because of the Mo-based second layer, the ITO layer is protected during development of a photoresist layer formed on the Al-based third layer even if some pinholes are present in the Al-based third layer. The Mo-based second layer can be etched by an etchant for the Al-based third layer so that the entire process is not complicated because of the provision of the Mo-based second layer.