Northwestern California University Faculty Of Law
Obligation – A promise or contract that is legally binding; the act of binding or obliging oneself, as in a contract. Damages – A monetary award in compensation for a monetary loss, lack of or injury to personal or actual property, or an injury. ChocoTime candy firm enters right into a contract with Cocoa Merchants in which ChocoTime will purchase all of the cocoa it wants for its candy from Cocoa Merchants, and Cocoa Merchants will promote as much cocoa because it desires to ChocoTime. Because this contract binds ChocoTime to purchasing all the …


