obligor
Definition
Obligated party (bond issuer, borrower, debtor, insurer, etc.) who has an obligation to repay a debt, make a payment, do something, or to refrain from doing something, under the terms of an agreement. Also called promisor.
obligor is in the Agreements & Contracts and Corporate, Commercial, & General Law subjects.
obligor appears in the definitions of the following terms:
option to renew,
promisor,
settlement,
non-delegable duty,
bilateral contract,
deficiency letter,
accrual of obligation,
counter guarantee,
security interest,
personal guarantee
and
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