Which one of the following types of liabilities represents a duty not contractually present but which may nevertheless exist due to ethical principles of fairness?
A)Deferred credits
B)Constructive obligations
C)Equitable obligations
D)Contingent liabilities

Question

Quizplus · Accepted Answer

Equitable obligations are duties that are not legally enforceable, but must be fulfilled due to moral or ethical considerations. These obligations may arise when a company owes something to someone, even though it is not legally bound to do so.

Which One of the Following Types of Liabilities Represents a Duty