Obligation vs Debit - What's the difference?
obligation | debit | Related terms |
The act of binding oneself by a social, legal, or moral tie to someone.
A social, legal, or moral requirement, duty, contract, or promise that compels someone to follow or avoid a particular course of action.
A course of action imposed by society, law, or conscience by which someone is bound or restricted.
(legal) A legal agreement stipulating a specified payment or action; the document containing such agreement.
* 1668 December 19, , “Mr.'' Alexander Seaton ''contra'' Menzies” in ''The Deci?ions of the Lords of Council & Se??ion I (Edinburgh, 1683),
In bookkeeping, an entry in the left hand column of an account.
A sum of money taken out of a bank account. Thus called, because in bank's bookkeeping a cash withdrawal diminishes the amount of money held on the account, i.e. bank's debt to the customer.
To make an entry on the debit side of an account.
To record a receivable in the bookkeeping.
of or relating to process of taking money from an account
of or relating to the debit card function of a debit card rather than its often available credit card function {as used by US Postal Service, Walmart, and other payees
As nouns the difference between obligation and debit
is that obligation is the act of binding oneself by a social, legal, or moral tie to someone while debit is in bookkeeping, an entry in the left hand column of an account.As a verb debit is
to make an entry on the debit side of an account.As an adjective debit is
of or relating to process of taking money from an account.obligation
English
(wikipedia obligation)Noun
(en noun)- X shall be entitled to subcontract its obligation to provide the Support Services. <
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page 575
- The Pupil after his Pupillarity, had granted a Di?charge to one of the Co-tutors, which did extingui?h the whole Debt of that Co-tutor, and con?equently of all the re?t, they being all correi debendi , lyable by one individual Obligation , which cannot be Di?charged as to one, and ?tand as to all the re?t.
Usage notes
* Adjectives often used with "obligation": moral, legal, social, contractual, political, mutual, military, perpetual, etc.Synonyms
* dutyAntonyms
* rightdebit
English
(wikipedia debit)Noun
(en noun)- A cash sale is recorded as debit on the cash account and as credit on the sales account.
Derived terms
* debit cardSee also
* creditVerb
(en verb)- ''We shall debit your account for the amount of the purchase.
- We shall debit the amount of your purchase to your account.