Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

current obligation

Read a random definition: free and clear

A quick definition of current obligation:

A current obligation is something you have to do or pay right now. It can be a legal or moral duty, like paying your rent or returning a borrowed item. Obligations can also come from contracts or agreements you make with others. Some obligations can be divided or changed, while others must be fulfilled exactly as agreed. Obligations can be enforced by law or just based on your conscience.

A more thorough explanation:

A current obligation is a legal or moral duty that a person must do or not do. It can be imposed by law, contract, promise, social relations, courtesy, kindness, or morality. It can also be a formal, binding agreement or acknowledgment of a liability to pay a certain amount or to do a certain thing for a particular person or set of persons.

For example, if you borrow money from a friend and promise to pay it back within a month, that promise is a current obligation. If you sign a contract to deliver goods to a customer within a specific timeframe, that contract creates a current obligation.

Current obligations are enforceable at the present time, but they are not past due. This means that if you fail to fulfill your current obligation, the other party can take legal action against you to enforce it.

current money | current revenue

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.