Maryland Code, COMMERCIAL LAW 12-627
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Terms Used In Maryland Code, COMMERCIAL LAW 12-627
- 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.
If there is no resale of repossessed goods under § 12-626 of this subtitle, all obligations of the buyer under the agreement shall be discharged, and the holder may retain the goods as his own property without obligation to account to the buyer.