Definition of obligee
WebObligee definition: One to whom another is under obligation by a contract or legal agreement. WebThe meaning of OBLIGEE is one to whom another is obligated (as by a contract); specifically : one who is protected by a surety bond. How to use obligee in a sentence.
Definition of obligee
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WebObligee definition at Dictionary.com, a free online dictionary with pronunciation, synonyms and translation. Look it up now!
WebJul 15, 2024 · An Obligee is a creditor, the parent who collects child support, or the party requesting a surety bond in an insurance context. Even though a divorce is granted with a final order, that order can be modified if the financial situation of the obligor or obligee changes significantly. The obligation to pay child support, however, is one that ... Webbilateral contract. A bilateral contract is a contract in which both parties exchange promises to perform. One party’s promise serves as consideration for the promise of the other. As a result, each party is an obligor on that party’s own promise and an obligee on the other’s promise. (compare: unilateral contract) The most common types ...
WebOct 4, 2024 · The obligee can be a bank, a credit company, or a person who gets a surety bond to make sure that another person will complete something as contractually promised. Insurance policyholders are also obligees, insofar as their insurance contract stipulates that they are obliged to pay premiums to the insurance company. Advertisement. WebAnne-Laure Rédactrice de contenus web (@alacle.communication) on Instagram: "Lexique du SEO ️ Lorsque l'on découvre l'optimisation de site web, le ...
WebAug 22, 2024 · Take- aways. The terms debtor and creditor are synonymous with obligor and obligee. The obligor is the debtor, and the obligee is the creditor. If you’ve ever taken out a loan, you were the obligor, and your lender was the obligee. In corporate settings, obligors are contractually obligated to meet commitments also known as covenants.
WebApr 17, 2024 · Definition. An obligor is an individual who owes a benefit or payment to another person, such as child support, alimony, or a payment on a loan. The individual receiving the benefit is known as the obligee, and they benefit from the terms of the contract. An obligor can also be an entity, too, such as a business that is contractually … disney world parade 1971WebObligee. The party to an agreement to whom an obligation is owed. An obligation is a requirement, especially a legal one. For example, an investor may have a legal obligation … disney world pandora banshee rideWebDefine obligee. obligee synonyms, obligee pronunciation, obligee translation, English dictionary definition of obligee. n. One to whom another is under obligation by a … cpd for icaewWebIn the case of contract bonds, the obligee is the party creating the contract – eg. for a construction project or service agreement. Whoever is designated as the obligee … cpd formula ethicsWebObligee — the benefitting party. In contrast, an obligee is the person an obligated party is bound to. So to use the same case example above, the obligee is the person who has been awarded the child-support … disney world pandora landWebAug 3, 2024 · The bond obligee is the person that the surety company will pay if you do not fulfill your contractual obligations. The bond obligee in a vehicle dealer’s bond is typically either the state or federal government that regulates motor vehicle dealers and enforces laws against them. States require these bonds because they want to make sure ... disney world pandora mapWebThe popular meaning of the term “obligation” is a duty to do or not to do something. In its legal sense, obligation is a civil law concept. An obligation can be created voluntarily, such as one arising from a contract, quasi-contract, or unilateral promise. An obligation can also be created involuntarily, such as an obligation arising from ... cpd for nqts