Statutory Obligation
/ˈstætʃuˌtɔːri ˌɑblɪˈɡeɪʃən/
Definitions
- (n.) A legal duty imposed by statute that requires a person or entity to act or refrain from acting in a specified way.
The company has a statutory obligation to file annual financial reports.
Forms
- statutory obligations
Related terms
See also
Commentary
Statutory obligations derive explicitly from legislation, distinguishing them from duties arising by contract or common law.
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.