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Guarantee

a condition subsequent, Black's Law Dictionary, 7th Edn., p. 711. Company limited by. See COMPANIES. Guarantee includes any obligation undertaken before the commencement of this Constitution to make payments in the event of the profits of an

Hire

last are but sub-divisions of the general head of hire of labour and services. The rights, duties, and obligations of the parties resulting from the contract of bailment for hire may be thus stated:- (I.) Hire of

Liable

Liable, means 'Bound or obliged in law or equity; responsible; chargeable; answerable; compellable to make satisfaction, compensation or restitution..... Obligated: accountable for or

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Obligor

Means (1) One who has undertaken an obligation is owed; a promisee or creditor. (2) One who is obliged to do something, Black's Law Dictionary, 7th Edn., p. 1104. Means a person liable to the originator, whether

Payable

Durga Prosad Khaitan v. Commercial Tax Officer, AIR 1956 Cal 596 (598). The word 'payable' may signify an obligation to pay at a future time but when used without qualification in payable at once, S.P.L.P. Narayanan Chettiar

Trust

of the creator must be seen, Shabbir Husain v. Ashiq Husain, AIR 1929 Oudh 225. Trust, is an obligation annexed to ownership. A trustee holds property 'subject' to an obligation, which the testator has imposed upon him,

lien

lien [Anglo-French, bond, obligation, literally, tie, band, from Old French, from Latin ligamen, from ligare to bind] : a charge or encumbrance

Fidei-commissum

Fidei-commissum, a testamentary disposition, by which a person who gives a thing to another imposes on him the obligation of transferring it to a third person. The obligation wass not created bywords of legal binding force (civilia

Debt

in which it is used in, s. 60, C.P.C. Ordinarily, 'debt' means money that is owed; an existing obligation to pay certain amount; a sum of money due from one person to another, J. Jermans v. Aliamnal,

Condition

contract or to property may arise, become altered, or cease. Condition has been used in connection with personal obligations to distinguish one kind of obligation from another in the same transaction and to limit property. In their

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