Akademik

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 /ˌɒblɪˈgeɪʃ^ən/ 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.