"contract obligation" is a correct and usable phrase in written English.
It refers to a specific obligation or responsibility that is outlined in a contract between two parties. Example sentence: "According to the contract obligations outlined in our agreement, Company A is responsible for delivering the goods by the agreed upon date."
The Act does not relieve either the employer or his employees of any existing contract obligation.
Mr. Gregory said Soyuz capsules would be used to satisfy an American contract obligation to provide crew rescue capacity for all non-Russian astronauts on the station.
But, so far as it speaks of what constitutes impairing the contract obligation, it is applicable, in its fullest extent, to all legislation affecting contracts, no matter who may be the parties.
At the same time the prohibition of the Contract Clause, consistently with its wording and historic purposes, has been limited in application to state laws that diluted, with utter indifference to the legitimate interests of the beneficiary of a contract duty, the existing contract obligation, W. B. Worthen Co. v. Kavanaugh, 295 U.S. 56, 55 S.Ct.
The term includes any bond for indemnifying any person who shall have become bound or engaged as surety, and any bond for the due execution or performance of any contract, obligation, or requirement, or the duties of any office or position, and to account for money received by virtue thereof, where a premium is charged for the execution of such bond.
Indeed, the formal structure of contract may be understood by establishing contrasts between contract obligation and these near-neighbors.
"K.B.R. is resolved to continue support of the U.S. troops and to fulfill all contract obligations".
"Jay will of course honor his contract obligations to NBC," said Kenneth Ziffren, Mr. Leno's lawyer.
"It is important to influence the host city contract – obligations are laid down.
On Friday, Wells Fargo said Emerisque was unwilling to assume Hartmarx's health care, retirement and "union contract" obligations.
A contract is legally binding only if each party obtains something of value (referred to as "consideration") in return for performance of the contract obligations.
