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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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Some lenders do not accept cosigners. If you're having trouble meeting the minimum income requirements, you can see if the lender will consider spousal income.
The CFPB report includes a borrower who made 36 consecutive on-time payments, asked for her cosigner to be released from the private loan, and was denied because several payments--to her surprise--were counted as late due to the payment processing delay.
Smith did not notice that the papers named her as the primary noteholder--not as a cosigner for Treadway.
* Name of any cosigner of second owner, if applicable
Purchasing a new vehicle through the usual OEM-owned finance companies could often be next to impossible for first-time young buyers without sponsorship from a credit-worthy cosigner. Less than 30% of college-aged students have this option available to them, especially with most parents footing the bill for college tuition, room & board, and incidentals.
"Comment nommer convalescence," Jeanne Hyvrard asks, answering herself without hesitation: "l'operation qui consiste a recreer le monde et a le cosigner." And this co-signing of being, our being together, is of course what lies at the root of all her writing: not a reversal or seizure of power, but a negotiated contract of love, joy, and respect, a reorigination of who we are, can be, together.
Most of the time, I'd rather keep my own name on the first line although I wouldn't mind God as a cosigner, especially when my debts are called in.
Sallie Mae has also introduced benefits such as on-time payment rewards, built-in tuition insurance, and faster cosigner release, as well as a death and disability loan forgiveness safeguard.
He's never had to have a cosigner before, but that looks likely now that he's accumulated about $57,000 in debt.
According to Trowbridge, RSIS made an attempt to get the funding from its own bank but after meeting initial resistance from the bank, the company learned that its portion "wasn't really necessary." "Between 1 Source's resources and the size of the contract, EES was able to get the funding without needing RSIS as a cosigner," says Trowbridge.