Contractual Transaction Obligation

From Open Risk Manual

Definition

Contractual Transaction Obligation. An obligation which is one perspective on a commitment which is both a contractual commitment and a transaction-related economic commitment.


Issues and Challenges

REA supports the definition of transactions both within and between distinct legal entities or persons. This element forms part of the definition of REA transaction concepts which are between entities.

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.

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