Legal Definitions - maker

In a legal context, a maker refers to the individual or entity that creates, signs, or issues a document, statement, or rule, thereby taking responsibility for its content or the obligations it establishes. This term highlights the origin of a legal instrument or declaration and the associated accountability.

• Example 1: Promissory Note

  Imagine a scenario where Alex borrows money from a friend, Ben. To formalize the agreement, Alex drafts and signs a document stating that he promises to repay Ben a specific amount of money by a certain date. This document is known as a promissory note.

  In this situation, Alex is the maker of the promissory note. By signing it, Alex formally creates the legal obligation to repay the debt, making him responsible for fulfilling the terms outlined in the note.

• Example 2: Corporate Press Release

  Consider a large technology company preparing to launch a new product. The Chief Marketing Officer (CMO) reviews and gives final approval to the press release that will announce the product's features, benefits, and availability to the public and investors. The press release is then distributed widely.

  Here, the CMO, by having the ultimate authority over the content and dissemination of the public announcement, acts as the maker of that statement. If the press release contains materially false or misleading information, the CMO, as the maker, could be held accountable under securities laws or consumer protection regulations for the accuracy of the statement.

• Example 3: Local Ordinance

  A town council holds several meetings to discuss and develop new regulations concerning the use of public parks, such as prohibiting littering and setting closing hours. After debate and public input, the council votes to formally adopt these new rules as a town ordinance.

  The town council, as a collective legislative body, is the maker of this ordinance. They are responsible for framing, promulgating, and ordaining the new rules, which then become legally binding for the town's residents and visitors using the parks.