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LSDefine

Simple English definitions for legal terms

Obligor

Read a random definition: quasi ex delicto

A quick definition of Obligor:

Term: Obligor

Definition: An obligor is someone who owes money or has a responsibility to perform a certain action. This person has given something as collateral to secure payment or performance of the obligation. In other words, they are accountable for paying back what they owe or fulfilling their obligation in some other way.

A more thorough explanation:

Definition: An obligor is a person who owes payment or other performance of an obligation that is secured by a security interest in or an agricultural lien on some collateral. The obligor may have provided property other than the collateral to secure payment or other performance of the obligation, or may be otherwise accountable for payment or other performance of the obligation.

Example 1: John takes out a loan to buy a car. The car is used as collateral for the loan, and John is the obligor. He owes payment on the loan and is responsible for making sure the loan is paid off.

Example 2: Sarah rents an apartment and signs a lease agreement. She is the obligor and owes payment for rent each month. If she fails to pay, the landlord can take legal action against her to collect the unpaid rent.

The examples illustrate how an obligor is someone who owes payment or other performance of an obligation. In both examples, John and Sarah are responsible for fulfilling their obligations, whether it's paying off a loan or paying rent. If they fail to do so, they may face legal consequences.

Obligee | OBRA

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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