California Code of Civil Procedure 26 – An obligation is a legal duty, by which one person is bound to do or …
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An obligation is a legal duty, by which one person is bound to do or not to do a certain thing, and arises from either of the following:
(a) Contract.
Terms Used In California Code of Civil Procedure 26
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes a corporation as well as a natural person. See California Code of Civil Procedure 17
(b) Operation of law.
(Amended by Stats. 2017, Ch. 561, Sec. 21. (AB 1516) Effective January 1, 2018.)