In legal terminology, what is the term for the party that has to fulfill a debt or obligation?

The term for the party that has to fulfill a debt or obligation is "obligor." In a legal context, the obligor is the individual or entity that is responsible for performing a duty or paying a debt as specified in a contract or agreement. This could include repaying a loan, fulfilling the terms of a bail agreement, or executing any other responsibilities defined in a legal obligation.

Understanding this terminology is crucial because it lays the foundation for identifying roles within contracts and financial agreements. The obligor’s responsibilities contrast with those of the obligee, who is the party entitled to receive the fulfillment of the obligation. The other terms listed do not accurately define the party responsible for the debt; for example, a surety guarantees the obligation of the obligor but is not the one fulfilling the debt themselves.