Yes, obligation is a Scrabble word!

Noun

1. The social force that binds you to the courses of action demanded by that force; every opportunity, an obligation; every possession, a duty"- John D.Rockefeller Jr

2. The state of being obligated to do or pay something

3. A personal relation in which one is indebted for a service or favor

4. A written promise to repay a debt

5. A legal agreement specifying a payment or action and the penalty for failure to comply