Definition of obligation

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TeachMeFinance.com - explain obligation



obligation -- A legally binding commitment by the federal government that will result in outlays, immediately or in the future.

another definition...

obligation -- the requirement imposed on a debtor to pay a debt and the legal right of a creditor to enforce payment.



About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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