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What is an obligor?

Bar Exam Prep Contracts Third Parties What is an obligor?
🤔 Contracts • Third Parties K#182

Legal Definition

The other, non-assignor party to the contract who owes an obligation.

Plain English Explanation

Imagine that Bob has an apple tree. Bob sells Sam the right to pick 1 basket of apples from his tree each month for $20 per month. Sam doesn't like apples, but Amy does. Sam sells Amy his rights for $25 per month.

In this example, Sam is the assignor, Amy is the assignee, and Bob is the obligor.

Visual Aids

What is an obligor?
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