/ɑːblɪˈɡeɪʃən/ – Noun
Definition: 1. bổn phận, nghĩa vụ;
2. điều cam kết, điều giao ước;
3. hiệu lực, bắt buộc;
4. trái phiếu, trái khoán.
A more thorough explanation: In legal terms, an obligation refers to a duty or responsibility to perform or refrain from performing a certain action, typically arising from a contract, law, or other binding agreement. It is a legal requirement that one party is obligated to fulfill for the benefit of another party.
Example: The contract clearly outlines the obligations of both parties regarding the delivery of goods and payment terms.