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.

See: comaker
References in periodicals archive ?
If you're unable to get a cosigner, then you can try applying for loans from lenders that offer loans to people with bad credit scores.
A list of cosigners can be found at www.nlc.org by clicking on the Grassroots Action Center icon.
And VanCity CEO Dave Mowat said the credit union is proud of its attempt to include the gay and lesbian community, calling it "a natural evolution." "Thirty years ago, when we started making loans to women without their husbands as cosigners, people thought that was crazy too.
Henry Brown (R-S.C.) and immediately received the support of 61 representatives, who joined Brown as cosigners.
There have always, of course, been boards which frowned upon parental cosigners, but, of late, the practice is gaining momentum.