Obligor
/əˈblaɪdʒˈɔr/
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Definition
(noun) The party bearing a legal obligation to another party (the obligee).
Sentence Examples
The company was the obligor in the contract agreement.
As the obligor, they were responsible for the debt.
CEFR Practice Quiz
In the financial agreement, the ____ is the party who is legally bound to pay back the loan.