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obligee

Syllabification: ob·li·gee
Pronunciation: /ˌäbliˈjē
 
/

Definition of obligee in English:

noun

Law
A person to whom another is bound by contract or other legal procedure. Compare with obligor.
Example sentences
  • The surety in a construction bond has three options: complete the work itself; retain a contractor to complete the work; or permit the obligee to complete the contract and pay any increased cost of such work.
  • They also appear to assume that joint obligees are each entitled to one-half of the obligation.
  • Each participant with a loan being rolled over should execute an acknowledgment that the acquiring firm will be substituted as the obligee on the loan.

Definition of obligee in:

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