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Homework answers / question archive / Which of the following statements is correct? A present obligation is an example of a legal obligation

Which of the following statements is correct? A present obligation is an example of a legal obligation

Accounting

Which of the following statements is correct?

  1. A present obligation is an example of a legal obligation.
  1. A legal obligation is an example of a constructive obligation.
  1. A constructive obligation is an example of an equitable obligation.
  1. An equitable obligation is an example of a present obligation.

 

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Answer: a ) A present obligation is an example of a legal obligation .

Legal, constructive and equitable all three can be forms of a present obligation. And they are separate types therefore, option A is correct.

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