Montana Code 27-1-105. Obligation defined
Current as of: 2023 | Check for updates
|
Other versions
27-1-105. Obligation defined. An obligation is a legal duty by which one person is bound to do or not to do a certain thing and arises from:
Terms Used In Montana Code 27-1-105
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
(1)contract; or
(2)operation of law.