Home / What is the correct pronunciation of the word 'obligor' and what does it mean?

What is the correct pronunciation of the word 'obligor' and what does it mean?


What is the definition of obligor?

  • An obligor is a person or entity who has an obligation or responsibility to fulfill a certain task or duty.

What are some synonyms for obligor?

  • Debtor
  • Payer
  • Defendant
  • Indebted person

What is the opposite of obligor?

  • Obligee
  • Creditor

What are some related terms to obligor?

  • Obligation
  • Liability
  • Responsibility
  • Debt

What are the different types of obligors?

  • Individual obligor
  • Corporate obligor
  • Government obligor

What are the characteristics of an obligor?

  • Has a legal or financial obligation
  • May have signed a contract or agreement
  • Must fulfill their responsibility or face consequences

What is the role of an obligor in a contract?

  • The obligor is bound by the terms of the contract to perform a certain action or pay a specific amount of money.

Can an obligor transfer their obligation to someone else?

  • In some cases, an obligor may be able to transfer their obligation to another person or entity through a process called novation.

What happens if an obligor fails to fulfill their obligation?

  • If an obligor fails to fulfill their obligation, they may be subject to legal action or penalties, such as fines or loss of assets.

Is an obligor the same as a guarantor?

  • No, an obligor is the party with the primary responsibility to fulfill an obligation, while a guarantor is a secondary party who ensures the obligation is fulfilled if the obligor fails to do so.