A legal obligation that involves repaying a debt is called a

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Social Studies

Goonie

7 January, 09:14

A legal obligation that involves repaying a debt is called a

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Essence Rivers · Answer 1

It's called a Liability.

The legal obligation will be much stronger if you put it under writing. Liabiity usually recorrded on the right side of Company's Ledger. The ammount of Liability that a company has must be identical to the ammount that you get when you cut the total ammountt of owner's ewuity from the company's asset