Updated on March 7, 2023
An obliger is a party to the contract that is obligated or required to honour the terms set under the same and make payments accordingly. Such obligors can be an individual or a non-individual entity and can be one or more parties to the contract.
A person becomes an obliger provided they give their consent to the contract by signing the same. However, in some cases, oral contracts are also enforceable as per The Contracts Act. In such cases, even if the obligor has not signed the written contract, the consent provided to the oral contract makes it binding.