Cosigners
/ˈkoʊˌsaɪnərz/
Definitions
- (n.) Individuals who sign a legal document, typically a loan or lease, agreeing to be jointly responsible for the obligations if the primary signer defaults.
The bank required cosigners to guarantee the loan payment if the borrower failed to pay.
Forms
- cosigner
Related terms
See also
Commentary
Cosigners assume a secondary liability distinct from the primary party; clarity in obligations is crucial in drafting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.