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obligation

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obligation

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 gratitude4: something one is bound to do : duty, responsibility

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