obligor | Wex | US Law | LII Legal Information Institute An obligor is a person within the law of secured transactions that, with respect to an obligation secured by a security interest in or an agricultural lien on some collateral owes payment or other performance of the obligation, has provided property other than the collateral to secure payment or other performance of the obligation, or is
obligor - Meaning in Law and Legal Documents, Examples and FAQs An obligor is a person or entity that has a legal responsibility to fulfill an obligation, such as making a payment or performing a service This term is often used in contracts and agreements where one party owes something to another
Legal Definition of obligor | The Global Legal Lexicon (ah-bluh-gore) n the person or entity who owes an obligation to another, as one who must pay on a promissory note Legal definitions serve as the cornerstone of legal interpretation, providing clarity and precision within legal texts, statutes, and regulations
Obligor: Definition, How It Works, Types, and Examples An obligor, often referred to as a debtor, is an individual or entity legally bound to provide a benefit or payment to another party In finance, an obligor is commonly a bond issuer obligated to make principal and interest payments on outstanding debt
Obligor vs Obligee: Key Differences, Responsibilities, and Rights In financial agreements, the obligor, or debtor, is responsible for fulfilling the financial obligation, typically involving payments For instance, in a mortgage, the homeowner is the obligor, required to make regular payments to the lender, who is the obligee
Obligor: Overview, definition and example - cobrief. app What is an obligor? An obligor is the person or business that has a responsibility or duty to fulfill under a contract or legal agreement They owe something to the other party, known as the obligee, such as money, goods, or services