Obligor – a person who has undertaken an obligation; a promisor or debtor

    This page is continued from Types of Legal Instruments >>>> Bonds >>>> Legal Terms pertaining to Bonds:

********************************

obligor:
(16c)

1. Someone who has undertaken an obligation; a promisor or debtor. UCC § 9-102(a)(59).

2. Under the Uniform Interstate Family Support Act, any person who owes a duty of support.

3. Archaic. Someone who obliges another to do something; OBLIGEE (1). [1]

1. A promisor.  One who has incurred an obligation to another.  The person, natural or artificial, liable on a bond.  Within the meaning of the Uniform Reciprocal Enforcement of Support Act: — any person owing a duty of support. Uniform Reciprocal Enforcement of Support Act § 2(g). [2]

1. The person who owes an obligation to another; a promisor. [3]

Specific Types of Obligors:

principal obligor – someone who is under a duty of indemnity.

joint obligor – person liable with one or more others on a negotiable instrument or a contract; a person liable on a joint obligation or a joint and several obligation. — aka coobligor.

References:

Disclaimer: All material throughout this website is compiled in accordance with Fair Use.

[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black & Editor in Chief Bryan A. Garner. ISBN: 978-0-314-62130-6

[2]: Ballantine’s Law Dictionary with Pronunciations
Third Edition
 by James A. Ballantine (James Arthur 1871-1949).  Edited by William S. Anderson.  © 1969 by THE LAWYER’S CO-OPERATIVE PUBLISHING COMPANY.  Library of Congress Catalog Card No. 68-30931

[3]: Ballantine’s Law Dictionary Legal Assistant Edition
by Jack Ballantine 
(James Arthur 1871-1949).  Doctored by Jack G. Handler, J.D. © 1994 Delmar by Thomson Learning.  ISBN 0-8273-4874-6.

******************************************

Back to Bonds

Like this website?

Please Support Our Fundraiser

or donate via PayPal:

Disclaimer: Wild Willpower does not condone the actions of Maximilian Robespierre, however the above quote is excellent!

This website is being broadcast for First Amendment purposes courtesy of

Questions?  Suggestion(s)?
Distance@WildWillpower.org.
We look forward to hearing from you!

 

 

Learn the System