👉 In finance, "pre-obliged" refers to a situation where an individual or entity is obligated to pay back their debt in the future. This term is used when someone owes money and has not yet paid it off, but they have already agreed to repay the debt in the future. This can happen for various reasons such as a misunderstanding of terms, a lack of financial planning, or a change in circumstances that makes it more reasonable to pay back the debt.
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What is the definition of Preoblige? 🙋
👉 In legal terms, "pre-obligation" refers to a situation where an obligation has not yet been performed or fulfilled. In other words, it is about obligations that are not yet due and payable by one party to another in a specific time frame or under specified circumstances. This term can be used in various contexts, such as contracts, agreements, legal documents, and laws. For example, if you enter into a contract with a company for the purchase of goods, but the supplier has not
