Obligation vs Liabilities - What's the difference?
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
Other Comparisons: What's the difference?
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),
- X shall be entitled to subcontract its obligation to provide the Support Services. <>
- 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.
* Adjectives often used with "obligation": moral, legal, social, contractual, political, mutual, military, perpetual, etc.
(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.