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An obligation is a course of action which someone is required to take, be it a legal obligation or a moral obligation. Obligations are constraints; they limit freedom. People who are under obligations may choose to freely act under obligations. Obligation exists when there is a choice to do what is morally good and what is morally unacceptable. [1]
In addition, certain contracts are required by state law to be in writing (real estate transactions, for example), while others are not. [2] Wade and Honeyman [3] describe a ‘durable’ contract as one in which all parties substantially perform without abandonment and without resorting to legal proceedings. With only anecdotal evidence, it is ...
An illusory promise, or one which the promisor actually has no obligation to keep, does not count as consideration. The promise must be real and unconditional. This doctrine rarely invalidates contracts; it is a fundamental doctrine in contract law that courts should try to enforce contracts whenever possible.
In every contract there is an implied covenant that neither party shall do anything, which will have the effect of destroying or injuring the right of the other party, to receive the fruits of the contract. In other words, every contract has an implied covenant of good faith and fair dealing.
In philosophy, moral responsibility is the status of morally deserving praise, blame, reward, or punishment for an act or omission in accordance with one's moral obligations. [ 1 ] [ 2 ] Deciding what (if anything) counts as "morally obligatory" is a principal concern of ethics .
A morality clause (also known as a morals clause, bad boy clause or bad girl clause) is a provision within instruments of a contract which curtail, or restrain, or proscribe certain behavior of individuals or party(s) to the contract. A moral clause within contracts is used as a means of holding the individual or party / parties to a certain ...
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]
Pacta sunt servanda [1] ("agreements must be kept.") is a brocard and a fundamental principle of law which holds that treaties or contracts are binding upon the parties that entered into the treaty or contract. [2] It is customary international law. [3]