Principal obligation

PRINCIPAL OBLIGATION. That obligation which arises from the principal object of the engagement which has been contracted between the parties. It differs from an accessory obligation. (q.v.) For example, in the sale of a horse, the principal obligation of the seller is to deliver the horse; the obligation to take care of him till delivered is an accessory engagement. Poth. Obl. n. 182. By principal obligation is also understood tho engagement of one who becomes bound for himself and not for the benefit of another. Poth. Obl. n. 186.

References in periodicals archive ?
quoted in the specification are indicative amounts and do not give rise to the principal obligation to purchase them in full.
He stressed that supporting the Palestinians and their cause is a principal obligation for the Muslims.
In technical terms they are a method of exchanging the underlying economic basis of a debt or asset without affecting the underlying principal obligation on the debt or the asset.
Creation and Subsequent Modification of the Principal Obligation B.
Agreement on a penalty must be made in writing, even if the contract of the principal obligation is made in another form.
On the other hand, the principal obligation undertaken by the United States under the NPT is to "pursue negotiations in good faith on effective measures relating to cessation of the nuclear arms race at an early date and to nuclear disarmament.
Also, the banking sector is not meeting its principal obligation, which is to offer loans and support productive activities.
The principal obligation of result reflected in article 2 (1) is to take steps "with a view to achieving progressively the full realization of the rights recognized" in the Covenant.
Simply put, a see is the administrative district (diocese) assigned as the principal obligation of a particular bishop.
He argues that the principal obligation of CPA members would be to "make illegal, and to take action against, restrictive business practices that deny or impede opportunities for other signatories' products and firms to contest markets on terms no less favorable than those enjoyed by domestic and other foreign products and firms.
If the reporter is professional then it follows, as with any professional, that his or her principal obligation is to the client, not to the employer.
Corporate leadership's principal obligation is to make a profit, and there is no personal relationship or obligation between corporate leadership and the consumer.

Full browser ?