Contract Obligation
/ˈkɒn.trækt ˌɒblɪˈɡeɪ.ʃən/
Definitions
- (n.) A legal duty imposed by a contract requiring a party to perform or refrain from specific acts.
The contract obligation to deliver goods by the agreed date was enforceable by law.
- (n.) An enforceable promise or set of promises constituting part of a contractual agreement.
Each contract obligation must be fulfilled to avoid breach.
Forms
- contract obligation
- contract obligations
Related terms
See also
Commentary
Contract obligations arise from agreements creating legally binding duties; clarity in drafting these terms is critical to avoid disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.