The 'Lectric Law Library's Lexicon On
* Principal Obligation *

PRINCIPAL OBLIGATION - That obligation which arises from the principal object of the engagement which has been contracted between the parties. It differs from an accessory obligation. For example, in the sale of a horse, the principal obligation of the seller is to deliver the horse; the obligation to take care of him till delivered is an accessory engagement. By principal obligation is also understood the engagement of one who becomes bound for himself and not for the benefit of another.
   --b--

Need a Lawyer? Check Out The 'Lectric Law Library's Searchable Attorney Directory
& our Searchable Expert Witness Directory

Back To The Letter * P *

  The Lexicon's Lyceum Other Letters' Terms & Important Info.
  The Reference Room Dozens Of Legal Topic Areas
  The Rotunda Our Central Hub, Directory & Index

Search by
	Web Search Search the Library

Court, Business and Personal Forms for all Situations and Locations

(This should open a new window. Close it when you're done and you may be back here.)