Main Entry: ob·li·ga·tion

Pronunciation: \ˌä-blə-ˈgā-shən\

Function: noun

Date: 14th century

1 : the action of obligating oneself to a course of action (as by a promise or vow)
2 a : something (as a formal contract, a promise, or the demands of conscience or custom) that obligates one to a course of action b : a debt security (as a mortgage or corporate bond) c : a commitment (as by a government) to pay a particular sum of money; also : an amount owed under such an obligation <unable to meet its obligations, the company went into bankruptcy>
3 a : a condition or feeling of being obligated b : a debt of gratitude
4 : something one is bound to do : duty, responsibility