Obligation

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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 ?
STABLE PERFORMANCE: Over the next two years, Fitch expects the Asbury Maryland Obligated Group (ASMOG) to continue to produce above 'BBB' median level financial results and debt service coverage, with capital needs remaining manageable.
So, there is some obligation that applies to each of us when we are a member of an obligated collective, even if we know that other members of this collective will not do their parts.
St Luke's Hospital will become part of the obligated group at close of the transaction.
To justify its position, the IRS noted that (1) the VPFs, pledge agreements and share-lending agreements all involved the same taxpayer and the same stock, (2) the VPFs and pledge agreements obligated the taxpayer to enter into the share-lending agreements and (3) no independent collateral was required to be posted by the counterparty pursuant to the sharelending agreement.
JBT: Of course, employers are obligated to comply with all relevant employment laws and regulations on the federal, state and local levels.
Lichenologists who publish books are obligated to make up common names, and concentric boulder lichen is quite descriptive.
* A description of the purpose for which operation and maintenance funds are being obligated.
What some of gay America seems to forget is that while it is ideal for LGBT folks to be as out and outspoken as possible, this is not every LGBT person's duty: Your father's very public opinions of gay marriage should not and do not make you obligated to stand up against him.
At this time, $1,259,755 of the funds has been obligated. Further funds will be obligated as individual delivery orders are issued.
The immigration department has stated that airlines would be obligated to provide passenger lists prior to flights to police in Spain if requested and they would also have to keep record of passengers who do not make use of the return trip.
A researcher is obligated to honor a teenager's decision if he or she believes that it represents an informed choice.
The disclosure requirement is satisfied if the creditor gives a copy of the document containing the unexecuted credit contract and disclosures to the consumer to read and sign; and the consumer receives a copy to keep at the time the consumer becomes obligated. It is not sufficient for the creditor merely to show the consumer the document containing the disclosures before the consumer signs and becomes obligated.