Cosigner

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Cosigner

An obligor—a person who becomes obligated, under a Commercial Paper, such as a promissory note or check—by signing the instrument in conjunction with the original obligor, thereby promising to pay it in full.

The cosigner may be held equally responsible for the payment of the debt or may be required to pay only upon the failure of the original obligor to do so, depending upon state law and the terms of the agreement that also determine the rights of the cosigner.

Cosigner is synonymous with the term comaker.

References in periodicals archive ?
They need to set up some sort of checks and balances; for example, a co-signer or someone to approve decisions above a certain dollar amount.
If there's a co-signer on a loan, however, that person will be responsible for repaying it.
In the press release announcing its ownership change, Co-Signer.coma[euro](tm)s vice president of marketing Rebecca Eli said she expects that the need to have someone cosign for a residential lease will continue to rise.
Gulf Times Co-signer Ahmad told that he and his parties had what it took to make sure peace was realised, also stating that there was no infighting within his party.
In addition, consumers under the age of 21 can no longer open a credit card account without a co-signer (usually a parent).
(AP) -- An upstate New York woman has been sentenced to 15 months in prison and has to pay restitution after listing her former landlord as co-signer on a $23,300 student loan.
"The green economy is an issue on which the Moroccan government has worked for years and on which we have a number of achievements both in law and practice," said Boulif, co-signer of the two documents with the Secretary General, Angel Gurria.
Beverly Davis says if the Work Advantage program is eliminated, there needs to be something to help people get out of shelters when they can't amass the savings--or build the credit--to get an apartment on their own: "So they're gonna need a co-signer. And the co-signer can't have no kind of felonies.
The Fuqua School of Business has a unique loan programme for international students that cover the full cost of tuition, without a US co-signer. In addition, all applicants who are accepted to the programme are considered for merit-based scholarships," says Patricia McCall, regional director for Duke University - The Fuqua School of Business.
"First, it requires verification of ability to re-pay or a co-signer for young consumers.
3 CONSIDER A CO-SIGNER: If your credit is less than ideal, consider having a trusted family member, friend or spouse co-sign on your loan.