Payor
/ˈpeɪ.ər/
Definitions
- (n.) A party who makes a payment, especially in a legal or financial context to discharge an obligation.
The payor remitted the funds to satisfy the debt.
Forms
- payor
Related terms
See also
Commentary
The term 'payor' is often used interchangeably with 'payer' but 'payor' is more prevalent in specific legal and financial documents.
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.