👉 In accounting, "obligativeness" refers to a characteristic of financial transactions that involves an obligation or demand for payment. This may be related to paying bills, making payments to creditors, or collecting debts from creditors. The term is often used in the context of business transactions and the relationship between parties involved.
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What is the definition of Obligative? 🙋
👉 The term "obligative" refers to a duty or obligation that is due and payable, typically in exchange for something of value. It involves a legal relationship between two parties where one party owes money to another, which can be either monetary (like paying back money owed) or non-monetary (like an obligation to perform certain actions). In the context of legal documents, obligations are often specified as "obligations" in contracts or other legal agreements.
