obligor

[uh-blig-er]

obligor Definition

  • 1a person who is legally or morally bound to do something
  • 2a person who has an obligation to pay a debt

Using obligor: Examples

Take a moment to familiarize yourself with how "obligor" can be used in various situations through the following examples!

  • Example

    The obligor is responsible for paying back the loan.

  • Example

    The obligor failed to fulfill their contractual obligations.

  • Example

    The obligor is required to provide financial support for their child.

obligor Synonyms and Antonyms

Synonyms for obligor

Phrases with obligor

  • a person who is primarily responsible for fulfilling an obligation, such as paying back a loan

    Example

    The primary obligor on the loan is the borrower.

  • a person who is secondarily responsible for fulfilling an obligation, such as a guarantor or co-signer on a loan

    Example

    The secondary obligor on the loan is the co-signer.

  • a person who shares responsibility for fulfilling an obligation with one or more other persons

    Example

    The joint obligors on the loan are the two business partners.

Origins of obligor

from Latin 'obligare', meaning 'to bind'

๐Ÿ“Œ

Summary: obligor in Brief

'Obligor' [uh-blig-er] refers to a person who is legally or morally bound to do something, such as paying back a loan or fulfilling a contractual obligation. It can also refer to a person who has an obligation to pay a debt. The term has specific variations like 'primary obligor,' 'secondary obligor,' and 'joint obligor.'