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Simple English definitions for legal terms
Obligation
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A quick definition of Obligation:
Term: Obligation
Definition: An obligation is a duty to do or not to do something. In legal terms, it means that one person has a duty to another person, and that person has a right to expect that duty to be fulfilled. This duty can be created by a contract, agreement, or law. The person who has the duty is called the obligor, and the person who has the right is called the obligee. For example, if you borrow money from a bank, you have an obligation to pay it back, and the bank has the right to expect you to do so.
A more thorough explanation:
Definition: An obligation is a legal concept that refers to a duty or responsibility to do or not do something. It can be created voluntarily, such as through a contract, or involuntarily, such as through a tort or statute. An obligation binds two or more people together, with one party having a duty and the other having a corresponding right. The person or entity who owes the obligation is called the obligor, while the person or entity who holds the right is called the obligee.
- Contractual obligation: This refers to the duty to pay or perform certain acts that are created by a contract or agreement. For example, if you sign a lease agreement to rent an apartment, you have a contractual obligation to pay rent each month and keep the apartment in good condition.
- Conditional obligation: This refers to the duty to pay or perform certain acts that depend on the occurrence of a specific event. For example, if you agree to pay a contractor to build a house, your obligation to pay is conditional on the contractor completing the work to your satisfaction.
- Current obligation: This refers to an obligation that is currently enforceable. For example, if you owe money on a credit card, you have a current obligation to pay back the balance.
- Heritable obligation: This refers to an obligation or right that is not terminated by the death of the person who owed the obligation or held the right. For example, if a person owes money on a loan and dies, their estate may still be responsible for paying back the loan.
These examples illustrate how an obligation can be created through different types of agreements or circumstances, and how it binds two or more parties together with specific duties and rights.