A legal concept that has gained popularity in recent times. It requires the presence of third party who is neutral and unbiased, when a offer is made and accepted between […]

An method of expense budgeting that is based on (1) achievement of results, (2) The marketing strategies and techniques used to achieve such results and (3) the costs related to […]

An individual ‘s responsibility to ensure the accurate provision of information to the investor based on his preparation of a company’s fiscal statements. This is integral to an investor’s decision […]

1. General: Doing one’s best to get rid of biases, and other subjective evaluations, by solely depending on objectifiable data. 2. Accounting: The dependance of an accountant on objectifiable evidenceto […]

A principle in accounting that requires verifiable data as the basis for a company’s financial information .

The objective for the formation of the company is stated in the Objects clause . A firm is acting ultra varies or beyond its powers if the firm’s activities breaches […]

In old English law . Scolds or unquiet women, punished with the cucking-stool .

Gifts or offerings made to the king by any of his subjects; old debts, OBLATA TERRiE 842 OBLIGATION brought, as It were, together from preceding years, and put on the […]

In old European law. Voluntary slaves of churches or monasteries.

In the civil law . An action given to a party agaiust another who had offered to him a stolen thing, which was found in his possession. Inst. 3,1, 4.

Lat In the civil law . A tender of money in payment of a debt made by debtor to creditor. Whatever is offered to the church by the pious. Calvin. […]

To bind or constrain; to bind to the observance or performance of a duty; to place under an obligation . To bind one’s self by an obligation or promise; to […]

The balance in the budget account that is unspent, but it is reserved for a previously allocated purpose.

Lat In Roman law. The legal relation existing between two certain persons whereby one (the creditor) is authorized to demand of the other (the debtor) a certain performance which has […]

An obligation is a legal duty, by which a person is bound to do or not to do a certain thing. Civ. Code Cal.

the term that is applied to an obligation that has no conditions attached to it.

A body with the administrative authority to order goods and services and make the necessary payments in return.

The basis on which accounting for appropriations and contract authorizations is conducted in government agencies. The recording of obligations upon incurrence and the reduction of appropriations or contract authorizations is […]

an instrument for debt whose value is estimated to be greater than the market value of the assets that are mortgaged. In the event that the borrower defaults on his […]

the term that is applied to an obligation where it will be fulfilled if another person fulfills his side of the obligation.

an obligation that contains several parts or objects that are connected.

an obligation arising from a firm contract or agreement.

an obligation where a person is bound by the express terms to carry out a certain promise.

this is the term given to an obligation that is inferred to be a duty due to the nature of the agreement.

the term applied to an obligation where 2 or more people bind themselves to perform the obligation.