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
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'
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.'
