Obligor - Law Dictionary Search Results
VerbarMoratorium
A period during which an obligor has a legal right to delay meeting an obligation esp such a period granted as to a bank
warrant
to protect or assure by warranty [the ed goods] [an assignor is not liable for defaults of the obligor and does not his solvency "Restatement (Second) of Contracts"] c : to state as a warranty : guarantee
surrender
a defendant] vi : to give oneself up n : an act or instance of surrendering [discharge an obligor by of a promissory note] ;esp : the yielding of an estate by a tenant to the landlord
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subrogation
party pays a creditor or obligee the third party succeeds to the creditor's rights against the debtor or obligor ;also : a doctrine holding that when an insurance company pays an insured's claim of loss due to
solidary
Louisiana 1 : existing jointly and severally 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
obligee
one (as a creditor) to whom another is legally obligated [an protected by a surety bond] compare debtor, obligor
satisfaction piece
formal written acknowledgment by an obligee (as a mortgagee) that an obligation has been satisfied and that the obligor is discharged
release
A release may in some situations require consideration in order to be valid. A release of one joint obligor sometimes is considered to release all the obligors. 2 : an act or instrument that effects a release
promisor
promisor also prom·is·er [prÄ -mə-sər] n : one that makes a promise compare obligor, offeror
principal
principal 1 : being the main or most important, consequential, or influential [their place of business] [the obligor] 2 : of, relating to, or constituting principal or a principal [the amount of the loan] n 1
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