Commitment in the right nature

The expression commitment designates the obligation of a debtor in the right nature opposite the creditor. In the economical sense commitments stand for the sum still of the outstanding accounts of an enterprise opposite its suppliers and other creditors.

The completeness principle ("§ 246 exp. I HGB) requires the complete passivation of all debts existing at the deadline, as far as legally nothing else is certain. An accounting of debts with fortune articles (e.g. property and mortgage) is inadmissible ("§ 246 exp. 2 HGB). So that a commitment may be passivated, it must be sufficient however for all of the following criteria:

• There must be an economic fortune load. Afterwards civilian or public obligation is neither a necessary nor sufficient condition of a balance-legal debt; also purely economic achievement obligations are to be passivated. A balance-legal debt is thus passivate usable only if the future expenditures represent removable expenditures for the fulfilment of the obligation immediately.

• Furthermore the economic fortune load must be seizable. A balance-legal debt must be sufficiently concretized, otherwise one one calls it general contractor's risk. Seizableness of the load concretized on the one hand by the external obligation principle, according to which the obligation must exist of objectification reasons opposite third. An achievement obligation opposite third can be legally justified or exist in an actual achievement obligation. Besides the demand from the obligation must be "probable", which the case is if more reasons for than against or developing of a commitment and a future demand speak. One summarizes this under the term of the objektivierten minimum probability.

• The debt must meet the criterion of quantifiability. This is equated i.d.R. with independent assessableness, which require an estimate procedure with uncertain commitments.

According to definition IAS/IFRS

IAS/IFRS a commitment (Liability) defines as follows in the Framework (F.49b): A commitment is one

• present obligation, up
• to an event of the past is based, from
• probable future resources discharge results.

Commitment in human behavior

Commitment in the interaction of two persons designates the consequence, with which a person stands too once for made statements. They are continued to pursue either up to their end or recalled clearly. If one tried to define commitment over the opposite, the saying meets "hollow words "quite beautifully.

Further

In the reference to data security commitment authenticity means.

Articles in category "Commitment"

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