Finesentence mobile logo
Sign in Login / Register

Obligee Meaning: Definition, Examples, and Translations

๐Ÿ’ฐ
Add to dictionary

obligee

[หŒษ’blษชหˆdส’iห ]

Definition

Context #1 | Noun

legal term

A person to whom a legal obligation is owed; a person who has the legal right to receive money or other property from another.

Synonyms

creditor, payee, recipient.

Which Synonym Should You Choose?

arrow down
Word Description / Examples
obligee

This term is commonly used in legal or contract contexts to refer to a person or entity to whom an obligation is owed by another party.

  • The obligee can take legal action if the debtor fails to repay the loan.
  • Under the agreement, the company became the obligee and was entitled to the payments.
creditor

Typically used in financial and business contexts to denote a person or institution that lends money or extends credit to another party.

  • After missing several payments, John had to negotiate with his creditor to avoid further penalties.
  • The companyโ€™s largest creditor agreed to restructure the debt to prevent bankruptcy.
payee

This term is commonly found in contexts involving checks, bank drafts, and other financial instruments, referring to the individual or entity to whom money is to be paid.

  • The check must be endorsed by the payee before it can be deposited.
  • The payeeโ€™s account details need to be accurate to ensure the payment goes through without any issues.
recipient

Used more broadly to refer to anyone who receives something, particularly in contexts involving gifts, awards, or grants.

  • The scholarship recipient was chosen based on academic excellence and community service.
  • Each recipient of the award gave a brief acceptance speech.

Examples of usage

  • The obligee in this case is entitled to receive the payment by the specified date.
  • The obligee can enforce the legal obligation against the obligor.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

Legal Context

  • An obligee is often involved in contract law, where they have a right to receive performance or a benefit from another party.
  • In financial agreements, the obligee is the recipient of payments or services specified in a contract, establishing a legal relationship.

Cultural References

  • The concept of obligations plays a vital role in many cultures, emphasizing duty and moral responsibility.
  • Many stories and fables reflect the relationships and obligations between characters, highlighting the importance of keeping promises.

Psychology

  • Obligations often create social bonds, as individuals feel a sense of duty towards those who help them.
  • The concept of reciprocity is important; when someone acts as an obligee, it can lead to feelings of gratitude and loyalty.

Economics

  • In finance, the term can refer to beneficiaries in transactions, emphasizing the role of trust in economic activities.
  • Understanding the role of an obligee is crucial in credit relationships where lenders expect repayment from borrowers.

Origin of 'obligee'

Main points about word origin

  • The term originates from the Latin word 'obligare,' meaning 'to bind or tie,' which reflects the idea of obligations.
  • The word evolved in Middle English, showcasing the transition of meanings over time in legal and common use.

The word 'obligee' originated from the Latin word 'obligฤtus', which means 'bound'. It has been used in legal contexts for centuries to refer to a person who is owed a legal obligation by another party. The concept of an obligee is fundamental in contract law and is essential for ensuring that legal obligations are fulfilled.

See also: obligate, obligated, obligation, obligatory, obliged, obliging.

Word Frequency Rank

Positioned at #23,734, this word is part of extensive vocabulary. It's relatively rare in general usage but may be important in specific fields or formal writing.