Which term refers to duties that arise from laws rather than agreements?

Prepare for the CA Foundation Business Law Exam with our comprehensive quiz. Utilize flashcards and multiple-choice questions, each complete with hints and explanations. Ace your exam confidently!

The term that refers to duties arising from laws, rather than agreements, is legal obligations. Legal obligations are enforced by law, meaning that they create certain responsibilities for individuals and entities that are codified in statutes or regulations. These may include obligations to comply with tax laws, adhere to safety regulations, or fulfill contractual terms enforced through legal channels.

In contrast, agreed obligations refer specifically to commitments made through mutual agreement or contracts, highlighting that these arise from the consent of parties involved rather than statutory requirements. Contractual duties are essentially a subset of agreed obligations, specifically those that emerge from a formal contract. Finally, moral responsibilities pertain to ethical standards individuals feel compelled to uphold, but they are not enforceable by law. Thus, while moral responsibilities can guide behavior, they do not create legally binding obligations in the way that legal obligations do.

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