What does obligor mean?
A person or entity that is legally responsible for paying a debt or fulfilling an obligation. In law, the obligor is the party that owes a duty or performance to another party, known as the obligee.
Example
"The obligor in the contract was responsible for paying the loan back to the bank within the specified timeframe."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.