Legal Definitions - promissor

The term promissor refers to an individual or entity that makes a promise or undertakes an obligation to another party. In legal contexts, particularly within civil law systems, it specifically identifies the party who agrees to perform an action or provide something in response to a request or inquiry from the other party, often called the "stipulator." Essentially, the promissor is the one who commits to a course of action or delivers on a stated intention.

Here are some examples illustrating the role of a promissor:

• Construction Contract: Imagine a homeowner who wants to build a new patio. They solicit bids from several contractors. After reviewing the proposals, they choose a specific contractor who then provides a detailed written agreement outlining the scope of work, materials to be used, timeline, and total cost. The contractor signs this agreement, committing to complete the patio as specified.

  In this scenario, the construction contractor is the promissor. They have undertaken the obligation to build the patio according to the agreed terms, in response to the homeowner's request for the construction service.

• Software Licensing Agreement: A small business decides to purchase a license for new accounting software. The software company's licensing agreement states that they will provide access to the software, offer regular updates, and maintain customer support for a specified period. The business owner agrees to these terms by purchasing the license and installing the software.

  Here, the software company acts as the promissor. They have committed to delivering the software, updates, and support services in exchange for the business's payment, responding to the business's need for accounting solutions.

• Personal Loan: A person needs funds to purchase a new car and applies for a loan from a bank. The bank approves the application and presents a loan agreement detailing the principal amount, interest rate, and a schedule for monthly repayments. The individual signs this agreement, thereby committing to repay the borrowed money under the specified terms.

  In this instance, the individual who receives the loan is the promissor. They are undertaking the obligation to repay the loan amount to the bank, which provided the funds in response to the individual's request for financial assistance.