Legal Definitions - obligant

An obligant is a term primarily used in Scots law to refer to an individual or entity that has a legal duty or debt to another party. Essentially, they are the party who is bound by an obligation to perform an action, deliver something, or pay a sum of money.

Here are some examples to illustrate the concept of an obligant:

• Example 1: Mortgage Agreement

  Imagine Sarah takes out a mortgage loan from a bank to buy a house. Under the terms of the mortgage agreement, Sarah is legally bound to make regular monthly payments to the bank until the loan is fully repaid. In this scenario, Sarah is the obligant because she has a legal obligation to fulfill the terms of the loan by making the agreed-upon payments.

• Example 2: Construction Contract

  A property developer hires a construction company to build a new apartment complex. The contract specifies that the construction company must complete the project by a certain date and to specific quality standards. Here, the construction company is the obligant because it has a legal duty to perform the construction work according to the agreed-upon terms and timeline.

• Example 3: Lease Agreement

  John signs a lease agreement to rent an office space for his business. The lease stipulates that John must pay a certain amount of rent on the first day of each month and maintain the property in good condition. In this situation, John is the obligant as he is legally bound by the terms of the lease to pay rent and adhere to the property maintenance clauses.