Payment Obligation

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1 Types

January 1, 1 5 min read Definitions

Obligor Obligee Legal Obligation Contract Law Payment Obligation Financial Liability

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.

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January 1, 1 6 min read Definitions

Promissory Note

Promissory Note Financial Instrument Debt Agreement Lending Borrowing Legal Document Payment Obligation Credit

A promissory note is a financial instrument that contains a written promise by one party to pay another party a definite sum of money, either on demand or at a specified future date.