In plain English
It names something a contract says a party must do. The requirement comes from the contract itself and is legally binding on that party.
In context
Here, “obligation” labels a duty in the contract that a party is required to perform and that is being tracked in the table.
- Situation
- Tracking obligations, deliverables, milestones, notices, and deadlines
- What it communicates
- labels a trackable duty item in the contract table.
Meaning limits
The term by itself does not say which party owes the duty or when it must be performed.
Examples
“Under the lease, the tenant had an obligation to repair damage caused by pets.”
“The table marks an obligation as complete once the required repair is done.”