obligor

Meanings

• noun

  A person who owes a debt or duty, especially a borrower of money.

  - "The bank is an obligor in the loan agreement."
  - "The borrower becomes an obligor when they sign the loan documents."

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Rhymes

Words rhyming with obligor
borrower , plower , glower

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Variants

List of all variants of obligor that leads to same result
obligor , obligors

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Etymology

origin and the way in which meanings have changed throughout history.

From Latin obligare, meaning 'to bind'. An obligor is a person who is bound by a legal or moral obligation.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The term obligor is commonly used in the context of finance and law.

2. In a contract, the obligor is the party that has the obligation to perform.

3. The term obligor is derived from the Latin word obligare, which means 'to bind'.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. obligee: The counterparty to an obligor in a contractual relationship.

2. contract: A legally enforceable agreement between two or more parties.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

In legal contexts, the term obligor is used extensively. In finance, an obligor refers to a borrower or issuer of a debt security.

How to Memorize "obligor"

1. visualize
   

   - Imagine a person signing a contract, promising to repay a debt. This person is the obligor.

2. associate
   

   - Associate the word 'obligor' with 'debtor' or 'borrower'.

3. mnemonics
   

   - Remember 'Obligator' as 'One Bound by Legal Obligation'.

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