Obligee - Law Dictionary Search Results
obligee
Matched in: Term obligee
Obligee
Matched in: Term Obligee
obligee
Matched in: Term obligee
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obligation
form of a contract heritable obligation : an obligation that may be enforced by the successor of the obligee or against the successor of the obligor joint obligation 1 : an obligation binding different obligors to a
solidary
2 : being a party to a solidary obligation [when one obligor owes an indivisible performance to distinct obligees, the obligees are obligees "Foreman v. Montgomery, 496 So. 2d 1280 (1986)"] sol·i·dar·i·ly [sÄ -lə-der-ə-lē] adv
debtor
debtor : a person who owes a debt see also bankrupt compare creditor, obligee, obligor NOTE: The Bankruptcy Act of 1978 calls the person concerned in a bankruptcy case the “debtor” as
liability
that is shared by obligors and that makes any one obligor liable for the entire obligation to the obligee but also apportions the liability among the obligors so that contribution is allowed ;specif : such liability for
obligor
is bound by an obligation to another [an obligation extinguished by performance of the ] compare creditor, debtor, obligee, promisor, surety
satisfaction piece
satisfaction piece : a formal written acknowledgment by an obligee (as a mortgagee) that an obligation has been satisfied and that the obligor is discharged
subrogation
subrogation 1 : an equitable doctrine holding that when a third party pays a creditor or obligee the third party succeeds to the creditor's rights against the debtor or obligor ;also : a doctrine holding
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