The term 'liable' refers to being responsible or obligated, especially in the context of financial and legal commitments within the realm of real estate. It often indicates a party that is legally bound to uphold agreements or settlements.
An Obligor is an individual or entity that is legally or contractually bound to provide payment or fulfill an obligation to another party, known as the Obligee.
In real estate, a tender is an offer to perform an obligation, including delivery or actual performance, under a contract. A tender can involve payments, delivering deeds, or offering services as required by contractual terms.
Valuable consideration refers to a benefit, interest, or value provided by one party to another, in exchange for something of value, forming the basis of a contractual obligation enforceable by law.
