BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An obligor, also known as a debtor, is a person or entity who is legally or contractually obliged to provide a benefit or payment to another.

Detailed explanation-2: -A person who owes a legal obligation to another person. In the context of financing arrangements, an obligor is usually a debtor (for example, a borrower) or someone who has given security or a guarantee for the payment of a debt or the performance of an obligation.

Detailed explanation-3: -This party to whom the debt is owed is called the creditor. The money or service that the debtor owes to the creditor is called the debt or the obligation. A debtor may also be referred to as the obligor and the creditor, the obligee.

Detailed explanation-4: -Obligor-the obligated party This term refers to a person bound by a legal obligation. For example, the spouse in a child-support determination proceeding responsible for making the child-support payments is called the obligor.

Detailed explanation-5: -Related Definitions Contract Obligor on a Contract means the purchaser or co-purchaser of a Financed Vehicle or any other person who owes or guarantees payments under the Contract. Contract Obligor means any obligor that is obligated to Debtor under a BFC Program Contract.