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Is obligor the creditor?

This party to whom the debt is owed is called the creditor. The money or service that the debtor owes to the creditor is called the debt or the obligation. A debtor may also be referred to as the obligor and the creditor, the obligee.

What is an example of an obligor?

Obligor the obligated party This term refers to a person bound by a legal obligation. For example, the spouse in a child-support determination proceeding responsible for making the child-support payments is called the obligor.

What is an example of an obligor?

Obligor the obligated party This term refers to a person bound by a legal obligation. For example, the spouse in a child-support determination proceeding responsible for making the child-support payments is called the obligor.

Who would be the obligor?

The term obligor refers to a person or entity, which has assumed or undertaken certain duties or obligation to another party, through legal contract. Therefore, it is a person or entity bound by contractual obligations.

Who is obligee vs obligor?

An obligor is an individual who owes a benefit or payment to another person, such as child support, alimony, or a payment on a loan. The individual receiving the benefit is known as the obligee, and they benefit from the terms of the contract.

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Who is a obligee?

Primary tabs. Obligee is a person or entity to whom an obligation is owed. It is a term that is often used in contract law. An obligee can be a creditor or a promisee. For example, in a principal surety relationship, an obligee is the creditor who may enforce payment or performance by either principal or surety.

What is a creditor obligee?

Obligee is a person or entity to whom an obligation is owed. It is a term that is often used in contract law. An obligee can be a creditor or a promisee. For example, in a principal surety relationship, an obligee is the creditor who may enforce payment or performance by either principal or surety.

Who is obligee vs obligor?

An obligor is an individual who owes a benefit or payment to another person, such as child support, alimony, or a payment on a loan. The individual receiving the benefit is known as the obligee, and they benefit from the terms of the contract.

What is obligee and example?

Obligee is a person or entity to whom an obligation is owed. It is a term that is often used in contract law. An obligee can be a creditor or a promisee. For example, in a principal surety relationship, an obligee is the creditor who may enforce payment or performance by either principal or surety.

Who is the creditor or obligee?

Obligee is a person or entity to whom an obligation is owed. It is a term that is often used in contract law. An obligee can be a creditor or a promisee. For example, in a principal surety relationship, an obligee is the creditor who may enforce payment or performance by either principal or surety.

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Is obligor the creditor?

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Who is a obligee?

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