Legal Obligation
(Redirected from Legal obligation)
Jump to navigation
Jump to search
A Legal Obligation is a requirement under law between one or more legal entities which arises from a legal relationship or a specific set of circumstances.
- Context:
- It can range from being an Unliquidated Obligation to being a Voluntary Obligation.
- It can range from being a Contractual Obligation to being a Statutory Obligation.
- It can result in a outlay or lawsuit.
- It can range from being a Statutory Obligation (legislation), Judicial Obligation (court ruling), or Contractual Obligations (contract agreement).
- It can be enforced through legal proceedings, such as lawsuits, fines, injunctions, or criminal penalties.
- It can be subject to interpretation and change due to evolving laws, legal precedents, and societal norms.
- It can apply to individuals, corporations, government entities, and other legal persons.
- ...
- Example(s):
- Contractual Obligations, such as: an indemnsity obligation, or a casualty damage-related obligation.
- Statutory Obligations, such as: a tax obligation and an employment law obligation.
- Judicial Obligations, such as: a court compliance order and a court-mandated settlement.
- Legal Disclosure Duty, ...
- ...
- Counter-Example(s):
- See: Law, Legal Rights, Legal Duty, Legal Liability, Civil Law, Criminal Law, Administrative Law, Provision Law.
References
2024
- Perplexity
- A legal obligation is a requirement under law that binds an individual or entity to perform or refrain from performing a specific action. This concept is fundamental in various legal systems and can arise from different sources such as contracts, statutes, or court rulings.
- Key Definitions
- General Definition: An obligation is a legal duty by which a person is bound to do or not to do a certain thing. This duty can be created voluntarily (e.g., through contracts) or involuntarily (e.g., through statutes or torts).
- Types of Legal Obligations:
- Contractual Obligation: Arises from agreements between parties where each party has a duty to fulfill the terms of the contract.
- Absolute Obligation: An unconditional duty that must be performed regardless of circumstances.
- Penal Obligation: Involves penalties for failing to meet the terms of an obligation, such as fines or imprisonment.
- Moral Obligation: Based on ethical considerations, though it may overlap with legal obligations in some cases.
- Express Obligation: Clearly stated duties within a contract or law, leaving no room for interpretation.
- Examples of Legal Obligations
- Contractual Obligations:
- A mortgage agreement where the borrower is obligated to make regular payments to the lender.
- Employment contracts that specify duties and responsibilities of the employee.
- Statutory Obligations:
- Legal requirements to pay taxes, with penalties for non-compliance.
- Obligations under the General Data Protection Regulation (GDPR) for businesses to protect personal data.
- Court-Imposed Obligations:
- Child support payments mandated by family court rulings.
- Compliance with court orders in civil or criminal cases.
- Contractual Obligations:
- Differences Between Legal and Moral Obligations
- Legal Obligation: Enforced by law and typically involves penalties for non-compliance. For example, failing to pay taxes can result in fines or imprisonment.
- Moral Obligation: Based on personal or societal ethics and does not usually involve legal penalties. For instance, helping a neighbor in need is a moral obligation but not a legal one.
- Conclusion: Legal obligations are essential components of the legal system, ensuring that individuals and entities adhere to agreed-upon duties and societal rules. They can arise from various sources and take multiple forms, each with specific implications and enforcement mechanisms. Understanding these obligations helps maintain order and trust within society.
- Citations:
[1] https://study.com/academy/lesson/obligation-legal-definition-types-examples.html [2] https://thelawdictionary.org/obligation/ [3] https://online.lincoln.ac.uk/what-is-the-law-of-obligation/ [4] https://www.law.cornell.edu/wex/obligation [5] https://www.investopedia.com/terms/o/obligation.asp
2016
- (Wikipedia, 2016) ⇒ http://en.wikipedia.org/wiki/Law_of_obligations
- The law of obligations is one branch of private law under the civil law legal system and so-called "mixed" legal systems. It is the body of rules that organizes and regulates the rights and duties arising between individuals. The specific rights and duties are referred to as obligations, and this area of law deals with their creation, effects, and extinction.
An obligation is a legal bond (vinculum iuris) by which one or more parties (obligants) are bound to act or refrain from acting. An obligation thus imposes on the obligor a duty to perform, and simultaneously creates a corresponding right to demand performance by the obligee to whom performance is to be tendered. Obligations may be civil, which are enforceable by action in a court of law, or natural, which imply moral duties but are unenforceable unless the obligor consents.
- The law of obligations is one branch of private law under the civil law legal system and so-called "mixed" legal systems. It is the body of rules that organizes and regulates the rights and duties arising between individuals. The specific rights and duties are referred to as obligations, and this area of law deals with their creation, effects, and extinction.
2016
- (CDER, 2016) ⇒ CDER Library v1.5.1.
- QUOTE: Obligation means a legally binding agreement that will result in outlays, immediately or in the future. When you place an order, sign a contract, award a grant, purchase a service, or take other actions that require the Government to make payments to the public or from one Government account to another, you incur an obligation. It is a violation of the Antideficiency Act (31 U.S.C. § 1341(a)) to involve the Federal Government in a contract or obligation for payment of money before an appropriation is made, unless authorized by law. This means you cannot incur obligations in a vacuum; you incur an obligation against budget authority in a Treasury account that belongs to your agency. It is a violation of the Antideficiency Act to incur an obligation in an amount greater than the amount available in the Treasury account that is available. This means that the account must have budget authority sufficient to cover the total of such obligations at the time the obligation is incurred. In addition, the obligation you incur must conform to other applicable provisions of law, and you must be able to support the amounts reported by the documentary evidence required by 31 U.S.C. § 1501. Moreover, you are required to maintain certifications and records showing that the amounts have been obligated (31 U.S.C. § 1108). The following subsections provide additional guidance on when to record obligations for the different types of goods and services or the amount.
(...) Obligations - When used in connection with a non-Federal entity's utilization of funds under a Federal award, obligations means orders placed for property and services, contracts and subawards made, and similar transactions during a given period that require payment by the non-Federal entity during the same or a future period.
- QUOTE: Obligation means a legally binding agreement that will result in outlays, immediately or in the future. When you place an order, sign a contract, award a grant, purchase a service, or take other actions that require the Government to make payments to the public or from one Government account to another, you incur an obligation. It is a violation of the Antideficiency Act (31 U.S.C. § 1341(a)) to involve the Federal Government in a contract or obligation for payment of money before an appropriation is made, unless authorized by law. This means you cannot incur obligations in a vacuum; you incur an obligation against budget authority in a Treasury account that belongs to your agency. It is a violation of the Antideficiency Act to incur an obligation in an amount greater than the amount available in the Treasury account that is available. This means that the account must have budget authority sufficient to cover the total of such obligations at the time the obligation is incurred. In addition, the obligation you incur must conform to other applicable provisions of law, and you must be able to support the amounts reported by the documentary evidence required by 31 U.S.C. § 1501. Moreover, you are required to maintain certifications and records showing that the amounts have been obligated (31 U.S.C. § 1108). The following subsections provide additional guidance on when to record obligations for the different types of goods and services or the amount.