Co-Maker


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Co-Maker

One who becomes obligated, an obligor, under a negotiable instrument—such as a check or promissory note—by signing his or her name along with the name of the original obligor, thereby promising to pay on it in full.

A co-maker is a type of accommodation party, who is someone who has signed a Commercial Paper to aid someone wishing to raise money on it. An accommodation party lends his or her name to another person and makes a promise to pay the bill or note when it is due if the other person defaults.

References in periodicals archive ?
If ASUS is really the co-maker of Nexus 10 2, the company can simply install Android 4.
Depositors with valid deposit accounts with balances of P100,000 and below shall be eligible for early payment and need not file deposit insurance claims, except accounts maintained by business entities, or when they have outstanding obligations with Countryside Cooperative Rural Bank of Batangas or acted as co-makers of these obligations,' the PDIC said.
To ensure the effective implementation of this program, applicants are required to have co-makers who must be permanent employees of the provincial government.