Obligation: Difference between revisions
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Revision as of 14:20, 23 October 2012
1. Any financial commitment undertaken, most commonly in relation to repaying money. For example the obligation to repay a bond - together with related interest - or the obligation to repay other borrowings or other debt.
2. More generally, any legally binding financial or non-financial commitment.
3. More broadly still, any type of commitment, whether or not it is legally binding.
See also