Montana Code 28-1-102. How obligations arise
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28-1-102. How obligations arise. An obligation arises either from:
Terms Used In Montana Code 28-1-102
- Contract: A legal written agreement that becomes binding when signed.
- 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.
(1)the contract of the parties; or
(2)the operation of law.