[]
baddestbunny
15:58
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
alternative obligation
Read a random definition: earnings yield
A quick definition of alternative obligation:
An alternative obligation is a type of duty where the person who owes it has a choice of how to fulfill it. This means they can choose between two or more ways to do what they promised. For example, if someone owes you money, they might have the option to pay you back in cash or with a check. It's different from an absolute obligation, where there's only one way to fulfill the duty.A more thorough explanation:
An alternative obligation is a legal duty that can be fulfilled in at least two different ways, at the choice of the person who owes the obligation. For example, if someone owes a debt of $100, they may have the option to either pay the full amount in cash or provide goods or services worth $100 instead.
Another example of an alternative obligation is a contract that allows the buyer to choose between two different delivery dates for a product. The buyer can choose the date that is most convenient for them.
These examples illustrate how an alternative obligation gives the person who owes the obligation some flexibility in how they fulfill their duty. As long as they choose one of the acceptable options, they will have fulfilled their obligation.