Simple obligation


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SIMPLE OBLIGATION. An unconditional obligation, one which is to be performed without depending upon any event provided by the parties to it.

References in periodicals archive ?
In this section I argue that the Simple Obligation is, in a certain sense, primary--in the process clarifying this central notion of being "prepared" or "ready" to act.
In particular, I argue, so long as I do not violate the Simple Obligation, to be prepared to do my part in a collective obligation if I am sufficiently sure others will, I do not violate the Complex Obligation.
Suppose now, for reductio, that I still satisfy the Simple Obligation, so that I am in fact prepared to do my part, if I become sufficiently sure that others will do theirs.
But the willingness in question might be more local than the Simple Obligation requires.
Our experience is that non-compliance with simple obligations can reflect more serious problems with insolvency practices.
By contrast, the ratings typically required by regulators relate to relatively simple obligations (deposits) issued by relatively simple financial institutions (banks and deposit takers).
She claims there is a minefield of simple obligations which are not being followed.

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