obligation

An obligation is a duty. It's your obligation or responsibility to call your mom on Mother's Day. Sending flowers would be even better.

When you are morally or legally bound to a particular commitment, it's your obligation to follow through on it. If you see a crime taking place, for example, it's your obligation to notify the police. If an elderly person comes onto a full bus, it's your obligation to give up your seat for him. Sometimes when you enter a formal agreement with someone involving money, you might have to sign an obligation that states you are committed to paying back what you've borrowed.

Definitions of obligation
1

n the state of being obligated to do or pay something

“he is under an obligation to finish the job”
Types:
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financial obligation, indebtedness, liability
an obligation to pay money to another party
limited liability
the liability of a firm's owners for no more than the capital they have invested in the firm
debt
the state of owing something (especially money)
arrears
the state of being behind in payments
account payable, payable
a liability account showing how much is owed for goods and services purchased on credit
scot and lot
obligations of all kinds taken as a whole
Type of:
state
the way something is with respect to its main attributes

n the social force that binds you to the courses of action demanded by that force

“every opportunity, an obligation
Synonyms:
duty, responsibility
Types:
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job
the responsibility to do something
guardianship, keeping, safekeeping
the responsibility of a guardian or keeper
moral obligation
an obligation arising out of considerations of right and wrong
noblesse oblige
the obligation of those of high rank to be honorable and generous (often used ironically)
burden of proof
the duty of proving a disputed charge
civic duty, civic responsibility
the responsibilities of a citizen
filial duty
duty of a child to its parents
imperative
some duty that is essential and urgent
incumbency
a duty that is incumbent upon you
legal duty
acts which the law requires be done or forborne
line of duty
all that is normally required in some area of responsibility
white man's burden
the supposed responsibility of the white race to provide care for their non-white subjects
prerequisite, requirement
something that is required in advance
demand, requirement
required activity
custody, hands
(with `in') guardianship over; in divorce cases it is the right to house and care for and discipline a child
jury duty
the civic duty to serve on a jury
fiduciary duty
the legal duty of a fiduciary to act in the best interests of the beneficiary
obedience, respect
behavior intended to please your parents
precondition
a condition that is a prerequisite
academic requirement
a requirement for admission to or completion of an academic program
essential condition, sine qua non
a prerequisite
Type of:
social control
control exerted (actively or passively) by group action

n a personal relation in which one is indebted for a service or favor

Synonyms:
indebtedness
Type of:
personal relation, personal relationship
a relation between persons

n a written promise to repay a debt

Synonyms:
certificate of indebtedness, debt instrument
Types:
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cash equivalent
a highly liquid debt instrument with maturities of less than three months
CD, certificate of deposit
a debt instrument issued by a bank; usually pays interest
note, note of hand, promissory note
a promise to pay a specified amount on demand or at a certain time
floater
a debt instrument with a variable interest rate tied to some other interest rate (e.g. the rate paid by T-bills)
bond, bond certificate
a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal
bond issue
bonds sold by a corporation or government agency at a particular time and identifiable by date of maturity
convertible bond
a bond that can be converted to other securities under certain conditions
corporate bond
a bond issued by a corporation; carries no claim to ownership and pays no dividends but payments to bondholders have priority over payments to stockholders
bearer bond, coupon bond
a bond issued with detachable coupons that must be presented to the issuer for interest payments
government bond
a bond that is an IOU of the United States Treasury; considered the safest security in the investment world
high-yield bond, junk bond
a (speculative) bond with a credit rating of BB or lower; issued for leveraged buyouts and other takeovers by companies with questionable credit
municipal bond
a bond issued by a state or local government
noncallable bond
a bond containing a provision that the holder cannot redeem the security before a specific date (usually at maturity)
performance bond, surety bond
a bond given to protect the recipient against loss in case the terms of a contract are not filled; a surety company assumes liability for nonperformance
post-obit bond
a bond made by a reversioner to secure a loan; payable out of his reversion
registered bond
a bond whose owner is recorded on the books of the issuer; can be transferred to another owner only when endorsed by the registered owner
revenue bond
a bond issued by an agency that is commissioned to finance public works; revenue from the public property is used to pay off the bond
secured bond
a bond that is back by collateral
debenture, debenture bond, unsecured bond
the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future
zero coupon bond, zero-coupon bond
a bond that is issued at a deep discount from its value at maturity and pays no interest during the life of the bond; the commonest form of zero-coupon security
time deposit
a certificate of deposit from which withdrawals can be made only after advance notice or at a specified future date
demand note
a note payable on demand
note receivable
your right in a promissory note in which the maker promises to pay a certain amount of money at a certain time
note payable
a note promising to pay a certain amount of money at a certain time
commercial paper
an unsecured and unregistered short-term obligation issued by an institutional borrower to investors who have temporarily idle cash
municipal note
a municipal debt instrument with a maturity of less than 2 years
IOU
an informal debt instrument; representing `I owe you'
time note
a note that specifies the time (or times) of repayment
Premium Bond
a government bond that bears no interest or capital gains but enters the holder into lotteries
Type of:
document
a written account of ownership or obligation

n a legal agreement specifying a payment or action and the penalty for failure to comply

Types:
debt
an obligation to pay or do something
Type of:
written agreement
a legal document summarizing the agreement between parties

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