obligation of a contract

obligation of a contract
That which the law in force when contract is made obliges parties to do or not to do, and the remedy and legal means to carry it into effect. The "obligation of a contract" is the duty of performance. The term includes everything within the obligatory scope of the contract, and it includes the means of enforcement

Black's law dictionary. . 1990.

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  • CONTRACT — (Heb. חוֹזֶה, ḥozeh), in general law theory a legally binding agreement between two or more parties, in terms of which one party undertakes for the benefit of the other to perform or refrain from a certain act. As such, contract is the main… …   Encyclopedia of Judaism

  • contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… …   Law dictionary

  • Contract — • The canonical and moralist doctrine on this subject is a development of that contained in the Roman civil law. In civil law, a contract is defined as the union of several persons in a coincident expression of will by which their legal relations …   Catholic encyclopedia

  • obligation — noun (C, U) 1 a moral or legal duty to do something: obligation to do sth: You can look at the books without any obligation to buy. (+ to): I have certain obligations to my family. | meet/fulfil an obligation (=do something that is your duty):… …   Longman dictionary of contemporary English

  • obligation — ob·li·ga·tion /ˌä blə gā shən/ n 1: a promise, acknowledgment, or agreement (as a contract) that binds one to a specific performance (as payment); also: the binding power of such an agreement or indication held that the amendment did not… …   Law dictionary

  • Obligation — Ob li*ga tion, n. [F. obligation. L. obligatio. See {Oblige}.] 1. The act of obligating. [1913 Webster] 2. That which obligates or constrains; the binding power of a promise, contract, oath, or vow, or of law; that which constitutes legal or… …   The Collaborative International Dictionary of English

  • obligation — [äb΄li gā′shən] n. [ME obligacioun < OFr obligation < L obligatio] 1. an obligating or being obligated 2. a binding contract, promise, moral responsibility, etc. 3. a duty imposed legally or socially; thing that one is bound to do by… …   English World dictionary

  • Obligation — • Defined in the Institutes of Justinian as a legal bond which by a legal necessity binds us to do something according to the laws of our State Catholic Encyclopedia. Kevin Knight. 2006. Obligation     Obligation …   Catholic encyclopedia

  • Contract — Con tract (k[o^]n tr[a^]kt), n. [L. contractus, fr. contrahere: cf. F. contrat, formerly also contract.] 1. (Law) The agreement of two or more persons, upon a sufficient consideration or cause, to do, or to abstain from doing, some act; an… …   The Collaborative International Dictionary of English

  • contract — CONTRACT. s. m. Paction, convention, traitté entre deux, ou plusieurs personnes portant obligation des contractants l un. envers l autre. Contract de bonne foy. contract civil. contract verbal, ou par parole. Contract par escrit. contract de… …   Dictionnaire de l'Académie française

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