Legal obligation is an obligation that derives from:
(a) a contract (through its explicit or implicit terms);
(b) legislation; or
(c) other operation of law.
Source: IAS 37 Provisions, Contingent Liabilities and Contingent Assets
Legal obligation is an obligation that derives from:
(a) a contract (through its explicit or implicit terms);
(b) legislation; or
(c) other operation of law.
Source: IAS 37 Provisions, Contingent Liabilities and Contingent Assets
