In a 2011 review for Mojo, John Harris described it as "a classic case of contractual obligation" but still a "decided improvement" on Dark Horse.
This is because from the point of view of fairness – as it has been argued in the case of human rights obligations – "a sound case for transnational obligations cannot be made, intellectually or politically" [and in this case morally], without eventually defining the scope and limits of national obligations" [ 27].
Insofar as legitimacy, understood normatively, defines which political institutions and which decisions made within them are acceptable, and, in some cases, what kind of obligations people who are governed by these institutions incur, there is the question what grounds this normativity.
Perhaps the most famous case of lingering financial obligations was that of former Senator John Glenn of Ohio, who built a $3 million debt in 1984 when he ran for the Democratic presidential nomination.
An example of a preemptive duty is the case of a promissory obligation.
Call it "the case of the Hidden Obligation".
The fastest growth came from private-equity groups, which raised $53 billion in three months, two-thirds more than a year earlier.As in other parts of the debt markets, the liquidity has been fed by the large number of investors willing to buy tranches of collateralised debt obligations or, in the case of leveraged lending, collateralised loan obligations, a market which has rallied since 2002.
But he added: "We're quite clear that publicly funded bodies have an obligation and in the case of the BBC, an overriding obligation, to be impartial and to be seen to be impartial".
Contract, that is, might be recast as a special case of tort or fiduciary obligation.
What the bankrupt and most at-risk papers have in common is that they recently changed hands and the new owners took on debt — immense debt, in the case of the Tribune Company, which listed obligations of $13 billion when it filed for bankruptcy in 2008.
