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.
https://financial-dictionary.thefreedictionary.com/Obligation
Congress split the baby heavily in favor of debt in that (1) the applicable obligation remains a debt instrument for all purposes of the Code, and (2) the portion of the yield that is deemed to be a dividend is treated as such only for purposes of the DRD.
https://financial-dictionary.thefreedictionary.com/Obligation
A primary obligation is one that must be performed since it is the main purpose of the contract that contains it, whereas a secondary obligation is only incidental to another principal duty or arises only in the event that the main obligation cannot be fulfilled.
https://legal-dictionary.thefreedictionary.com/obligation
Related Terms. 1  1. General: Bond of moral duty (whether of necessity or of one's own choosing) that ties two or more parties together. 2  2. Accounting: Duty to make future payment that is incurred as soon as a purchase order is placed, encumbers a certain sum of money, and is called obligation incurred. 3. Legal: Liability or duty to do something or refrain from doing something under the terms of a contract, such as the obligation of a borrower (the obligor) to pay back the lender (the obligee) under the terms of the loan agreement. Obligations usually involve a penalty for non-fulfillment.
http://www.businessdictionary.com/definition/obligation.html
Related Terms. 1. General: Bond of moral duty (whether of necessity or of one's own choosing) that ties two or more parties together. 2. Accounting: Duty to make future payment that is incurred as soon as a purchase order is placed, encumbers a certain sum of money, and is called obligation incurred.
http://www.businessdictionary.com/definition/obligation.html
An obligation is a duty. It's your obligation or responsibility to call your mom on Mother's Day. Sending flowers would be even better. When you are morally or legally bound to a particular commitment, it's your obligation to follow through on it. If you see a crime taking place, for example, it's your obligation to notify the police. If an elderly person comes onto a full bus, it's your obligation to give up your seat for him.
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A joint obligation is one that binds two or more people to fulfill whatever is required, and a several obligation requires each of two or more individuals to fulfill the obligation in its entirety by himself or herself.
https://legal-dictionary.thefreedictionary.com/obligation
A penal obligation is a penalty, such as the obligation to pay extra money if the terms or conditions of an agreement cannot be satisfied. obligation. n. a legal duty to pay or do something. obligation
https://legal-dictionary.thefreedictionary.com/obligation
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https://financial-dictionary.thefreedictionary.com/Obligation
An absolute obligation is one for which no legal alternative exists since it is an unconditional duty. A contractual obligation arises as a result of an enforceable promise, agreement, or contract.
https://legal-dictionary.thefreedictionary.com/obligation
define obligation
A penal obligation is a penalty, such as the obligation to pay extra money if the terms or conditions of an agreement cannot be satisfied.