MLchartDataset catalogue

Comaker

Term · Law · MLC-T-LAW-001075

An individual who signs a promissory note or other debt instrument along with the primary borrower, thereby assuming equal legal responsibility for repayment. The comaker is jointly and severally liable for the debt, meaning the lender can pursue either party for the full amount. This arrangement provides additional security for the lender.

Table 1. Record
IdentifierMLC-T-LAW-001075
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001075",
  "term": "Comaker",
  "field": "Law",
  "definition": "An individual who signs a promissory note or other debt instrument along with the primary borrower, thereby assuming equal legal responsibility for repayment. The comaker is jointly and severally liable for the debt, meaning the lender can pursue either party for the full amount. This arrangement provides additional security for the lender.",
  "url": "https://mlchart.com/terminology/law/comaker/"
}

Record 904 of 5,445 in Law terminology (MLC-0107). Request the full dataset.