{"id":363402,"date":"2013-01-28T16:34:14","date_gmt":"2013-01-28T21:34:14","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/dictionary\/definition\/obligation.html"},"modified":"2013-01-28T16:34:14","modified_gmt":"2013-01-28T21:34:14","slug":"obligation","status":"publish","type":"dictionary","link":"https:\/\/dictionary.findlaw.com\/definition\/obligation.html","title":{"rendered":"Obligation"},"content":{"rendered":"\n
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term:<\/p>\n

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n<\/p><\/dt>\n

1<\/b> :<\/b> a promise, acknowledgment, or agreement (as a contract) that binds one to a specific performance (as payment)
;also<\/i>
:<\/b> the binding power of such an agreement or indication [held that the amendment did not unconstitutionally impair the s<\/i> of contracts “Davis v. American Family Mut. Ins. Co.<\/i>, 521 N.W.2d 366 (1994)”]
2<\/b> :<\/b> a debt security (as a corporate or government bond) see also collateralized mortgage obligation<\/a>
3<\/b> :<\/b> what one is obligated to do, satisfy, or fulfill: as
a<\/b> :<\/b> a commitment to pay a particular amount of money [does not create a debt, liability, or other , legal or moral “State v. Florida Dev. Fin. Corp.<\/i>, 650 So. 2d 14 (1995)”]
;also<\/i>
:<\/b> an amount owed in such a commitment
b<\/b> :<\/b> a duty arising from law, contract, or morality [had a legal as an employer] [a contractual ]
4<\/b> in the civil law of Louisiana<\/i>
:<\/b> a relationship that binds one party to a performance (as a payment or transfer) or nonperformance for another party see also contract<\/a>, offense<\/a>, quasi-offense<\/a> NOTE: An obligation under civil law may arise by operation of law, naturally, or by contract or other declaration of will. The elements of an obligation are: the parties, an object, the relationship by virtue of which one party is bound to perform for the other’s benefit, and, in the case of conventional obligations, a cause. <\/i> <\/p>\n

conditional obligation<\/b>
:<\/b> an obligation that is dependent on an uncertain event <\/p>\n

conventional obligation<\/b>
:<\/b> an obligation taking the form of a contract <\/p>\n

heritable obligation<\/b>
:<\/b> an obligation that may be enforced by the successor of the obligee or against the successor of the obligor <\/p>\n

joint obligation<\/b>
1<\/b> :<\/b> an obligation binding different obligors to a performance for one obligee
2<\/b> :<\/b> an obligation binding one obligor to a performance for different obligees NOTE: In civil law, one of two or more obligors in a joint obligation is only liable for his or her portion of the performance. <\/i> <\/p>\n

natural obligation<\/b>
:<\/b> an obligation arising from moral duty that is implied but not enforceable by the law <\/p>\n

several obligation<\/b>
1<\/b> :<\/b> any of the obligations binding different obligors to separate performances for one obligee
2<\/b> :<\/b> any of the obligations binding an obligor to separate performances for different obligees <\/p>\n

solidary obligation<\/b>
:<\/b> an obligation under which any of two or more obligors can be held liable for the entire performance (as payment of a debt) NOTE: Solidary obligation is similar to joint and several liability in common law. <\/i> <\/p>\n<\/dd>\n<\/dl>\n

Source: Merriam-Webster’s Dictionary of Law \u00a91996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.<\/div>\n<\/div>\n
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Related Terms from the Divorce and Family Law Glossary<\/h2>\n\t\n\t
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