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Thus an obligation encompasses both sides of the equation, both the obligor's duty to render prestation and the obligee's right to receive prestation. It differs from the common-law concept of obligation which only encompasses the duty aspect. Every obligation has four essential requisites otherwise known as the elements of obligation. They are:
A "secondary obligation" is a duty which arises in law as a consequence of another, primary, obligation. [11] A person may themselves incur an obligation to perform a secondary obligation, for example, as a result of them breaching their primary obligation, or by another party breaching an obligation which the secondary obligor has guaranteed.
In moral philosophy, deontological ethics or deontology (from Greek: δέον, 'obligation, duty' + λόγος, 'study') is the normative ethical theory that the morality of an action should be based on whether that action itself is right or wrong under a series of rules and principles, rather than based on the consequences of the action. [1]
The topic of state responsibility was one of the first 14 areas provisionally selected for the ILC's attention in 1949. [7] When the ILC listed the topic for codification in 1953, "state responsibility" was distinguished from a separate topic on the "treatment of aliens", reflecting the growing view that state responsibility encompasses the breach of an international obligation.
The Restatement (Second) of Contracts states that the elements of consideration are as follows: 1. A performance or a return promise must be bargained for. 2. A performance or return promise is bargained for if it is sought by the promisor in exchange for his promise and is given by the promisee in exchange for that promise. 3.
4.3.2 Korean Contract Law ... or mixed-law jurisdictions that combine elements of both common and civil ... Obligations created by contracts can generally be ...
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Erga omnes obligations attach when there is a serious breach of peremptory norms of international law like those against piracy, genocide and wars of aggression. [2] [3] The concept was recognized in the International Court of Justice's decision in the Barcelona Traction case [4] [(Belgium v Spain) (Second Phase) ICJ Rep 1970 3 at paragraph 33]: