Duty

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Related to Import tariff: Import quota, Export Tariff

Duty

A legal obligation that entails mandatory conduct or performance. With respect to the laws relating to Customs Duties, a tax owed to the government for the import or export of goods.

A fiduciary, such as an executor or trustee, who occupies a position of confidence in relation to a third person, owes such person a duty to render services, provide care, or perform certain acts on his or her behalf.

In the context of Negligence cases, a person has a duty to comport himself or herself in a particular manner with respect to another person.

duty

n. 1) a legal obligation, the breach of which can result in liability. In a lawsuit a plaintiff must claim and prove that there was a duty by defendant to plaintiff. This can be a duty of care in a negligence case or a duty to perform in a contract case. 2) a tax on imports. (See: duty of care)

DUTY, natural law. A human action which is, exactly conformable to the laws which require us to obey them.
     2. It differs from a legal obligation, because a duty cannot always be enforced by the law; it is our duty, for example, to be temperate in eating, but we are under no legal obligation to be so; we ought to love our neighbors, but no law obliges us to love them.
     3. Duties may be considered in the relation of man towards God, towards himself, and towards mankind. 1. We are bound to obey the will of God as far as we are able to discover it, because he is the sovereign Lord of the universe who made and governs all things by his almighty power, and infinite wisdom. The general name of this duty is piety: which consists in entertaining just opinions concerning him, and partly in such affections towards him, and such, worship of him, as is suitable to these opinions.
     4.-2. A man has a duty to perform towards himself; he is bound by the law of nature to protect his life and his limbs; it is his duty, too, to avoid all intemperance in eating and drinking, and in the unlawful gratification of all his other appetites.
     5.-3. He has duties to perform towards others. He is bound to do to others the same justice which he would have a right to expect them to do to him.

References in periodicals archive ?
To have no checks on imports, drastically lower import tariffs, no specific duties, no classification between manufacturing and import and no licences for import and export are few examples from the recommendations which are going to completely wipe out the manufacturing base in the country.
Intelligence reports and reliable data on import tariff and import duties is always of special importance to businessmen and buyers, since it plays a major role in assessing a product's utility under the parameters of sales and profits.
Private sector strongly feels that reduction in import tariff on smuggle prone items is the only solution to discourage the smuggling under the garb of ATTA and they are also of the view that increased legal imports would compensate the fall in reduction in the rate of import tariff.
Less economically advanced countries -- Cambodia, Laos, Myanmar and Vietnam -- are given more time to eliminate their import tariffs.
Colombia has agreed to drop its current 20 percent import tariff on U.S.
Talks within the WTO on a new global trade agreement are currently suspended, largely due to a split between the EU and US over farm spending levels and import tariffs. US import tariffs on biofuels are currently 2.2% plus 54 cents per gallon, compared to the EU's import tariff of 91 cents, said Steenblik.
The domestic rubber price could still drop during the year if China lowers the rubber import tariff, or if the international crude oil price falls considerably, IBD said.
The EU said a few days earlier it would introduce an import tariff of 176 euros (US$207) per ton for bananas from Latin American countries instead of a contested quota-tariff system that had been outlawed by the WTO following previous disputes.
The safeguard against imports of beef is based on a law regulating import tariffs that allows Japan under a World Trade Organization agreement to automatically raise its import tariff on beef from 38.5% to 50% in the event of a year-on-year increase of more than 17% in beef imports over a certain number of months.
She considered a specific import tariff on oil, a gasoline tax and a drawdown of stocks from the strategic petroleum reserve.
Protected fish and seafood products will also retain 100% of the existing import tariff.