Obligation vs Liabilities - What's the difference?
obligation | liabilities |
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),
(finance) An amount of money in a company that is owed to someone and has to be paid in the future, such as tax, debt, interest, and mortgage payments.
As nouns the difference between obligation and liabilities
is that obligation is the act of binding oneself by a social, legal, or moral tie to someone while liabilities is plural of lang=en.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.