Obligation Legal Meaning and Definition

Here is a simplified definition of the legal term Obligation.

Obligation (noun):

A legal commitment or responsibility to perform an act, meet a requirement, or repay a debt according to laws or agreements. This term often refers to circumstances where nonperformance or failure to meet the obligation can result in legal penalties. It can be attached to situations such as paying money owed to another party, fulfilling the terms of a contract, or following through on a promise that is legally enforceable.