Obligation

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Related to Obligations: Contractual obligations

Obligation

A legal responsibility, such as to repay a debt.

Obligation

Any requirement, especially a legal one. For example, one may have a legal obligation to disclose one's investments to the SEC. Likewise, one has an obligation to repay debts by the agreed-upon time. On the other hand, one has an ethical obligation to deal fairly with one's clients, even if the obligation is not legally enforceable.
References in periodicals archive ?
The recent market collapse for debt obligations makes having a working knowledge in this area more important than ever.
The guaranty most favorable to the landlord requires delivery of vacant possession of the premises with all monetary and performance obligations fulfilled through the date of delivery of possession, including the restoration of the security deposit.
The expense is the employer's annual required contribution (ARC) to the plan, with adjustments for net obligations for past under or over contributions.
The normal risk level of the working environment, the healthcare worker's specialty, the likely harm and benefits of treatment, and the competing obligations deriving from the worker's multiple roles will all influence the limits of the duty of care.
The generally accepted assumption that environmental cleanup obligations are "contingent" liabilities is inconsistent with applicable legal principles, recently adopted financial accounting standards and market reality.
The remaining provisions of this Statement are consistent with the Board's proposal to revise that definition to encompass certain obligations that a reporting entity can or must settle by issuing its own equity shares, depending on the nature of the relationship established between the holder and the issuer.
Unliquidated obligations that are no longer needed to pay for goods and services tie up funds that could be used for other permissible purposes.
Many moral obligations are both derived from and justified by one, or a combination, of these principles.
This exception for obligations that are collected within 30 days from the time incurred, however, is only available if the CFC does not hold for more than 60 days obligations that would qualify as U.
The basic principle overriding all others in analyzing vendor or supplier contracts is that the agreement should contain a clear expression of the obligations of the parties.
In a modern economy, payment obligations are discharged through the transfer of an accepted monetary asset.