obligation
- An assurance or contract which legally requires one to perform a particular action, often involving monetary payment
- A type of financial liability, such as a government bond or corporate bond, that one is required to pay back
- A responsibility or duty one has to fulfill or satisfy due to a legal or moral agreement
- A binding promise to pay a specified sum of money, usually within a given time frame
- A requirement that arises from law or morality which one is duty-bound to fulfill
- A legal or moral relationship that requires one party to carry out a certain action or abstain from doing something for the benefit of another party
- The tenant has an obligation to keep the rented property clean and report any damages to the landlord.
- One of the obligations in a standard employment contract is the employee's duty to maintain the confidentiality of the company's sensitive information.
- The borrower decided to pay off his obligation to the bank ahead of schedule, freeing him from the financial responsibility earlier than planned.
Provide Feedback
