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.

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For real estate mortgage over your house or unit to be validly instituted, it must: (a) be constituted to secure the fulfillment of a principal obligation which, in this case, is the payment of your housing loan; (b) be instituted on property which you absolutely own; (c) be property which you have free disposal thereof or otherwise legally authorized to constitute the mortgage; and (d) appear in a public instrument duly recorded in the Registry of Deeds.

Housing loans deconstructed

When the principal obligation is extinguished by the termination of the contract, the ancillary obligation is likewise extinguished and deprived of its effect.

When Can a Hotel Owner Terminate the Hotel Management Agreement? A UAE Law Perspective

He stressed that supporting the Palestinians and their cause is a principal obligation for the Muslims.

Iran's FM Voices Confidence about Victory of Palestine

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.

Managing risk in a financial market

Creation and Subsequent Modification of the Principal Obligation B.

Responsibility for another's debt: suretyship, solidarity, and imperfect delegation

Agreement on a penalty must be made in writing, even if the contract of the principal obligation is made in another form.

Penalty e the most often used kind of security of obligations

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.

Does U.S. have enough rope yet?

Also, the banking sector is not meeting its principal obligation, which is to offer loans and support productive activities.

SPANISH BANK SEEKS TO GAIN FULL CONTROL OVER MEXICAN SUBSIDIARY BBVA-BANCOMER

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.

Appendix II: CESCR general comment No. 3: the Nature of states parties obligations (Art. 2, par.1)

Simply put, a see is the administrative district (diocese) assigned as the principal obligation of a particular bishop.

What is a see? (Glad you asked: Q&A on church teaching)

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.

The reader as client

Under current rules, the recorded investment in a loan at any time during its term equates to the present value of contractual interest and principal obligation as long as the receivable performs according to the loan agreement.