obligation

obligation
A legal responsibility, such as to repay a debt. Bloomberg Financial Dictionary

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obligation ob‧li‧ga‧tion [ˌɒblˈgeɪʆn ǁ ˌɑːb-] noun [countable, uncountable]
1. a legal or moral duty to do something:
obligation to do something

• I think companies should have a legal obligation to recycle their products at the ends of their lives.

• It's our obligation to provide a telephone service at the lowest possible cost.

• We've fulfilled our obligation to the creditors and shareholders.

• The firm failed to meet its contractual obligations (= do what the contract said it should do ) .

fiˌnancial obliˈgations [plural] FINANCE
payments that a person or organization must make:

• The company may fail to meet financial obligations and suggest a bankruptcy-law filing as an alternative.

2. be under an obligation to have to do something because it is a legal or moral duty:

• The water company is under an obligation to enhance drinking water standards.

be under an obligation be under no obligation to do something

• The government is under no obligation to finance the museum.

3. without obligation if you are invited to look at a product or service without obligation, you can look at it without having to buy it:

• This mortgage advice is completely free and without obligation.

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obligation UK US /ˌɒblɪˈgeɪʃən/ noun LAW
[C or U] a legal or moral duty to do something: »

a legal/moral obligation

an obligation to do sth »

There is a legal obligation to publish accounts.

»

We have an obligation to generate value for our shareholders.

an obligation to sb »

Under bankruptcy law, the company has an obligation to creditors.

be under (an) obligation »

You are under no obligation to accept damaged goods.

obligations — Cf. obligations
without obligation — Cf. without obligation
See also TAX OBLIGATION(Cf. ↑tax obligation)

Financial and business terms. 2012.

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Synonyms:

Look at other dictionaries:

  • Obligation — Obligation …   Deutsch Wörterbuch

  • obligation — [ ɔbligasjɔ̃ ] n. f. • 1235; lat. jurid. obligatio, de obligare 1 ♦ Dr. Lien de droit en vertu duquel une personne peut être contrainte de donner, de faire ou de ne pas faire qqch. (⇒ créancier, 1. débiteur). Obligation alimentaire. (lat. in… …   Encyclopédie Universelle

  • obligation — ob·li·ga·tion /ˌä blə gā shən/ n 1: a promise, acknowledgment, or agreement (as a contract) that binds one to a specific performance (as payment); also: the binding power of such an agreement or indication held that the amendment did not… …   Law dictionary

  • Obligation — • Defined in the Institutes of Justinian as a legal bond which by a legal necessity binds us to do something according to the laws of our State Catholic Encyclopedia. Kevin Knight. 2006. Obligation     Obligation …   Catholic encyclopedia

  • obligation — Obligation. s. f. Acte public par lequel on s oblige pardevant Notaire de payer certaine somme. Une obligation de dix mille francs. la nouvelle Ordonnance deffend l obligation par corps. obligation solidaire &c. il m en a passé obligation… …   Dictionnaire de l'Académie française

  • obligation — Obligation, f. acut. Obligatio, Tabulae. Obligation de comparoir en justice, Vadimonium. Une solennité d obligation, ou alienation où il failloit entre autres choses cinq tesmoins, Nexus, siue Nexum. Avoir quelque obligation envers autruy sous… …   Thresor de la langue françoyse

  • Obligation — Ob li*ga tion, n. [F. obligation. L. obligatio. See {Oblige}.] 1. The act of obligating. [1913 Webster] 2. That which obligates or constrains; the binding power of a promise, contract, oath, or vow, or of law; that which constitutes legal or… …   The Collaborative International Dictionary of English

  • obligation — 1 Obligation, duty are comparable when they denote what a person is bound to do or refrain from doing or for the performañce or nonperformance of which he is held responsible. In ordinary usage obligation typically implies immediate constraint… …   New Dictionary of Synonyms

  • Obligation — (von lateinisch obligare anbinden, verpflichten) steht für: Obligation (Recht), die Haftung einer Person für ein Schuldverhältnis beziehungsweise das Schuldverhältnis als solches Wirtschaft und Finanzen: verzinsliches Wertpapier, eine… …   Deutsch Wikipedia

  • obligation — (n.) c.1300, from O.Fr. obligation (early 13c.), from L. obligationem (nom. obligatio) an engaging or pledging, lit. a binding (but rarely used in this sense), noun of action from pp. stem of obligare (see OBLIGE (Cf. oblige)). The notion is of… …   Etymology dictionary

  • obligation — [äb΄li gā′shən] n. [ME obligacioun < OFr obligation < L obligatio] 1. an obligating or being obligated 2. a binding contract, promise, moral responsibility, etc. 3. a duty imposed legally or socially; thing that one is bound to do by… …   English World dictionary

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