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Contractual and legal requirements, both are Obligations on the party.
Where as Contractual is a private agreement between the parties to perform as agreed upon the terms and conditions as per their consensus ad idem.
Legal requirements is a mandatory obligation on the party to do or to perform some thing which has got a legal requirement to pursue or proceed further otherwise you are at fault or accused for illegal act for not fulfilling the legal requirement..
My2 cents for this question. Thanks.
