Duty

From Open Risk Manual

Definition

Duty. Some obligation which exists and is imposed on some individual.

It also has a more specific meaning is a tax imposed by the customs authority of a country on imported or special products.

Examples

  • Statutory obligations
  • Reporting obligations

Issues and Challenges

Duty can also be thought of as an obligation - not in the sense in which an obligation and a right are the converse aspects of one another, but in and of itself, independent of the perspective from which it is considered.

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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