· An obligation is the legal reservation of funds to make a future payment of money.The obligation is incurred as soon as an order is placed, or a contract is awarded for the delivery of goods and performance of service. An "expenditure" is a charge against available funds. It results from a voucher, claim, or otherdocument approved by competent ...
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The original debtor shall pay or perform 50% of the obligation to avoid unjust enrichment on his part. b. The original debtor is freed of liability since novation took place and this relieved him of his obligation. c. The original debtor shall pay or perform the obligation with recourse to …
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