babycat
15:35
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
co-obligee
Read a random definition: concerted action
A quick definition of co-obligee:
A co-obligee is one of two or more people who are owed something. This could be a promise, money, or support. An obligee is someone who is owed something, like a creditor or someone who needs support. It's important to use the word "obligee" correctly, because it's not the same as "obligor," which means someone who owes something.
A more thorough explanation:
Definition: Co-obligee refers to one of two or more individuals to whom an obligation is owed.
Explanation: An obligee is a person who is owed an obligation, which can be in the form of a promise, debt, or duty. In the case of co-obligees, there are multiple individuals who are owed the obligation. This means that the obligation is shared among them, and each co-obligee has an equal right to enforce it.
Example: John and Jane are co-obligees of a loan that they took out together. This means that they are both responsible for repaying the loan, and the lender can demand payment from either of them. If John fails to pay his share, the lender can seek payment from Jane, and vice versa.
Another example: A father and mother can be co-obligees of child support payments. This means that both parents are responsible for providing financial support to their child, and the custodial parent can seek payment from either of them if the other fails to pay.
Explanation of examples: In both examples, there are two individuals who are co-obligees of an obligation. They share the responsibility of fulfilling the obligation, and each has an equal right to enforce it. If one co-obligee fails to fulfill their part of the obligation, the other co-obligee can be held responsible for the entire obligation.