Examlex
Choose the INCORRECT statement.
Obligor
An individual or entity legally bound to provide a benefit or payment to another in accordance with a contract or legal agreement.
Materially Increase
Refers to a significant rise in the size, amount, or extent of something, often in a contractual or financial context.
Setoff
is a legal mechanism allowing a debtor to reduce the amount they owe to a creditor by any sum the creditor owes to them.
Obligor
An individual or entity that is legally or contractually bound to provide something to another party, the obligee.
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