An obligation is a requirement to take some course of action, whether legal or moral. There are also obligations in other normative contexts, such as obligations of etiquette, social obligations, and possibly in terms of politics, where obligations are requirements which must be fulfilled. These are generally legal obligations, which can incur a penalty for unfulfilment, although certain people are obliged to carry out certain actions for other reasons as well, whether as a tradition or for social reasons. Obligations vary from person to person: for example, a person holding a political office will generally have far more obligations than an average adult citizen, who themselves will have more obligations than a child. Obligations are generally granted in return for an increase in an individual’s rights or power.
Assumed Obligations Embedded in Property Not Included in Vendor's Proceeds, Supreme Court of Canada Finds in Daishowa Case
Jun 05, 2013; INTRODUCTION On May 23, 2013, the Supreme Court of Canada ("SCC") released its decision in Daishowa-Marubeni International Ltd....